Spring Break
80 years of bad policy causing current depression
Seth Stern
Issue date: 3/24/09 Section: Opinion
I once commented to a friend that the curse of the middle class is constantly being told by the upper class how much more they should do for the lower class. This has resulted in 80 years of horrendous monetary and fiscal policies that have brought us to the doorstep of the greatest depression in U.S. history.
After the way the federal government responded to the crisis starting in September, and the politicians' need to involve their views in every facet of daily life, our great nation is on the verge of collapse and our diplomas may very well end up useless.
Don't be foolish and believe everything will be OK; we're guided by 700 or so of the biggest blowhards and morons ever collected in one place. We're an awful long way from OK.
Think there's a company likely to hire you fresh out of college if we're in a situation with feral cities dotting the landscape? Think again. Take a weekend trip to Detroit if you want to see what Denver will look like at 20 percent unemployment.
In the words of Thomas Jefferson: "When all government, domestic and foreign, in little as in great things, shall be drawn to Washington as the center of all power, it will render powerless the checks provided of one government on another and will become as venal and oppressive as the government from which we separated."
The framers of the Constitution said, in layman's terms: Here is a wheel, it's all you need. You can add further restrictions to the wheel, but don't add to the wheel. It'll get too big, it will no longer function efficiently, and it will catastrophically fail.
Today's wheel is buried under a $2 trillion-per-annum, Pinto-unicycle, which attempts to control everything from personal choices to an economy that has never shown the ability to be controlled by anything other than itself.
President Obama shouldn't have tried to interfere with the economy. Keynesian economics never corrects a recession -- it only possibly delays those inevitable and necessary recessions. I'm not an economist, but it baffles me that people see recession as bad, rather than necessary.
After the way the federal government responded to the crisis starting in September, and the politicians' need to involve their views in every facet of daily life, our great nation is on the verge of collapse and our diplomas may very well end up useless.
Don't be foolish and believe everything will be OK; we're guided by 700 or so of the biggest blowhards and morons ever collected in one place. We're an awful long way from OK.
Think there's a company likely to hire you fresh out of college if we're in a situation with feral cities dotting the landscape? Think again. Take a weekend trip to Detroit if you want to see what Denver will look like at 20 percent unemployment.
In the words of Thomas Jefferson: "When all government, domestic and foreign, in little as in great things, shall be drawn to Washington as the center of all power, it will render powerless the checks provided of one government on another and will become as venal and oppressive as the government from which we separated."
The framers of the Constitution said, in layman's terms: Here is a wheel, it's all you need. You can add further restrictions to the wheel, but don't add to the wheel. It'll get too big, it will no longer function efficiently, and it will catastrophically fail.
Today's wheel is buried under a $2 trillion-per-annum, Pinto-unicycle, which attempts to control everything from personal choices to an economy that has never shown the ability to be controlled by anything other than itself.
President Obama shouldn't have tried to interfere with the economy. Keynesian economics never corrects a recession -- it only possibly delays those inevitable and necessary recessions. I'm not an economist, but it baffles me that people see recession as bad, rather than necessary.
Viewing Comments 1 - 2 of 5
jimmy
posted 3/24/09 @ 6:32 AM MST
Same stupid article but this time you had two weeks to write it. How can you say the last 80 years were the cause of the current depression? That is one of the dumbest and hasty assertions I have ever heard. (Continued…)
jimmy
posted 3/25/09 @ 8:00 PM MST
My complaint is that if Seth is going to write the same article every week he should at least include some fact. Generalizations do absolutely nothing and are the byproduct of a lack of knowledge and understanding of the topic being discussed. (Continued…)
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