Sunday, September 6, 2009

White House says stimulus is working

This is the quackery of Keynesian economics. Throw ludicrous amounts of money and spending and debt at a crisis, caused by ludicrous amounts of money creation and spending and debt, and then, when it fails miserably, claim victory because the crisis would've been so much the worse had they not thrown more money, spending, and debt at the crisis. This is like waking up with a hangover, and treating it by getting drunk again, and saying the hangover would've been so much worse if you hadn't gotten drunk again. And then your kidneys fail.

These are the same people who would have us believe that, despite lasting 17 years, the Great Depression would have been worse were it not for FDR's fascist and unconstitutional "recovery efforts". Efforts such as forcing farmers to plow under every other row, and kill every other pig, at a time when a large percentage of people were starving in this country. Quackery.

    Chicago Sun Times -

    The White House last week pitched a simple and decidedly upbeat message about its economic stimulus: "The recovery act is working,'' said Vice President Joe Biden.

    The $787 billion American Recovery and Reinvestment Act is boosting America's gross domestic product and helping to lift the nation out of recession, the White House maintains.

    "The recovery act has played a significant role in changing the trajectory of the economy," said Biden. "Instead of talking about the beginning of a depression, we are talking about the end of a recession."

Only the White House and its crackpot team of "economists" and controlled media are talking about the end of a recession. Objective, sane economists, who look at real economic numbers, not fake ones like the Stock Market, which can easily be manipulated by the money powers, are still warning we are on the cusp of the greatest depression in the history of the world.

    Since February, the United States has lost 2.2 million jobs -- the nation's unemployment level rose to 9.7 percent in August, the highest rate in 26 years -- and the projected 2009 deficit has climbed to a record $1.58 trillion, more than three times the size of a year ago.

    "Present borrowing will be paid for in the future either in the form of taxes, inflation or further borrowing from abroad, which in turn means higher taxes or inflation," said Edward Lazear, a Bush administration economist who now teaches at Stanford University in California.

    The public isn't completely sold: In a CNN poll released last week, 4 in 10 say President Obama's plans are improving the economy, with about a third saying they're making things worse and 1 in 4 saying they have had no effect so far.