The Fatal Error
February 1st, 2010 by 
reality
Democrat and House Majority Whip Tom Clyburn:
“We’re not going to save our way out of this recession,” the majority whip added. “We’ve got to spend our way out of this recession, and I think most economists know that.”
Yes, they do “know” that. The problem is, they’re wrong. The U.S. is suffering from the results of decades of underinvestment.
It’s not what you don’t know that gets you. It is what you know that just isn’t so.
Posted in Economics, Government, Saving & Investment, The Economy, The Fisc | 
1 Comment »
February 2nd, 2010 at 8:08 am
Realty, I think we are near the terminal phase of the govt finance bubble. $2T deficits as far as the eye can see and increasing every year. That is ~15% of the GDP even using the govt’s inflated GDP numbers. And they are worried about Greece at 12.5%???
The world has gone mad.