If you want to know why the UK economy is in such bad shape, reading this dribble from David G. Blanchflower, former member of the MPC, should be enlightening. He is quite concerned that governments will get a clue and cut spending. Since he reveres Keynes that is seen as tantamount to economic suicide:
March 10 [...]
From Cato, Six reasons to downsize the federal government. Here’s the first three:
1. Additional federal spending transfers resources from the more productive private sector to the less productive public sector of the economy. The bulk of federal spending goes toward subsidies and benefit payments, which generally do not enhance economic productivity. With lower productivity, average [...]
Mark Steyn is one of my favorite writers and this article is one of his best:
While President Obama was making his latest pitch for a brand new, even more unsustainable entitlement at the health care “summit,” thousands of Greeks took to the streets to riot. An enterprising cable network might have shown the two scenes [...]
PIMCO has put forth the prediction that the US economy faces a period, which they call the New Normal, of slow growth, high unemployment and low inflation or near deflation. Of course, as the largest bond manager in the world, that would be fine with Bill Gross and Mohammed El-Arian, but is it really what [...]
