Key point:
"Mr. Obama's analogies to the Great Depression are not only historically inaccurate, they're also dangerous. Repeated warnings from the White House about a coming economic apocalypse aren't likely to raise consumer and investor expectations for the future. In fact, they have contributed to the continuing decline in consumer confidence that is restraining a spending pickup. Beyond that, fearmongering can trigger a political stampede to embrace a 'recovery' package that delivers a lot less than it promises. A more cool-headed assessment of the economy's woes might produce better policies."On a related subject, self-appointed local blogging expert on everything Ed Cone has one of the most insipid columns (there are many others of his which fit into this category) I've ever read, in today's News and Record.
He actually has the gall to write this:
"Pollyannas glide right past the huge destruction of wealth and the end of Wall Street as we knew it, the better to tell us that things are not so bad now as they were in previous downturns. The trick here is to compare the current level of, say, unemployment to the numbers from the nadir of a previous recession, as if we had reached whatever trough that awaits us and as if pain is only a relative thing. "It takes little more than a basic understanding of our current position to understand how fatuous a statement like that actually is. He has no clear understanding of what has happened in our economy these last 15 months.
He then proceeds to entertain us with
"Neither panic nor denial is a healthy response to a bad situation. In this case, denial is probably the more dangerous of the two, if only because it has more political currency and thus seems likely to do more harm. I try to temper my native optimism with a healthy diet of reality. My take is that we have some very tough times ahead and that with some thoughtful action we'll get through them."This, from a constant drumbeater of negative and misleading economic news, all documented by his blog posts, all to support a warped worldview!
If this matter wasn't such an important matter to our nation, Cone's follies would actually be funny.
If Cone knew or understood history he would realize just how stupid his remarks are. I lay you odds he has never heard of or read anything about the Depression of 1920 which was the greatest economic downturn and the most rapid this country has ever experienced. Few know of it because the government leaders didn't turn stupid as the empty suited, unqualifeid , George Soros sock puppet and his congressional minions have done. The government of that day, cut government spending and cut taxes. My , My what a unique idea. Cut spending instead of was 800Million on spending that will do nothing but payback the fools who voted for him. We know "the One " didn't study history by the stupid comments he has made from day one of the campaign.
ReplyDeleteAnd Yes Ed, sometimes doing absolutely nothing is the best thing especially when the degree of what is occurring is mild to say the least. But then libtards like Cone don't think , they feel and react based on the emotion of the moment.
Ticker,
ReplyDeleteThat's $800 BILLION, and including interest, well over $1 TRILLION.
And, to make things worser, many are now saying that the "Reinvestment Act" was too SMALL, and we will need another one. Of course, since we have blown out every liberal wet-dream for the last 50 years, what will they conceive for the next $1 Trillion?
Funny, but it wasn't too long ago that we all thought that #1 Billion was a lot of money. Now, it is chump change.