Voodoo Child Talks Up A Storm

Barack Obama,Economy,Political Economy,Republicans,Socialism

The excerpt is from my new WND.com column, “Voodoo Child Talks Up A Storm”:

“Because consumption is its be-all and end-all, consumer confidence is crucial to the Cult of Keynes. If the consumer is not crazy confident—even when he ought not to be—goes the ‘thinking,’ he’ll quit consuming until he drops”:

“We will act with the full force of the federal government to ensure that the major banks that Americans depend on have enough confidence and enough money to lend even in more difficult times,’ barked Barack. ‘This administration is moving swiftly and aggressively to break this destructive cycle, restore confidence, and re-start lending.'”

“Our economic animists are hoping that the holy spirit of ‘confidence’ will enter the once bitten, twice shy lender, and make him lend. The same spell is supposed to mysteriously move the unemployed and penniless to spend.”

“In his wonderfully learned book, The Failure of the ‘New Economics,’ Henry Hazlitt (a favorite of mine, as you might have guessed) summed-up the essence of Keynes’ “General Theory”:

“The great virtue is Consumption, extravagance, improvidence. The great vice is Saving, thrift, ‘financial prudence.'” …

Read why the “Voodoo Child is true to the mores and methodology of Keynes,” in “Voodoo Child Talks Up A Storm,” now on WND.com.

4 thoughts on “Voodoo Child Talks Up A Storm

  1. Roger Chaillet

    The government proposes.

    And the market disposes.

    Or so goes a saying on Wall Street.

    Consumers and businesses all respond to incentives. So far all incentives have been negative: job losses, shrinking balance sheets, etc.

    The Voodoo Child’s voodoo economics will just prolong the agony of the economic meltdown.

  2. Myron Pauli

    On the LewRockwell blog, it was pointed out that this year’s federal defecit is the size of Clinton’s last ENTIRE budget (and twice the entire federal debt of 1972). Republican borrow and spend to Democratic tax and spend and so on… Spend and control…. Individuals are starting to be cautious about their spending so the government is going hog wild to plunge us into complete ruin. I can’t say when Judgement Day comes but we are approaching it. Then we will really see the animal spirits!

  3. John Danforth

    The administration and its advisers cannot possibly believe that their strategy will improve the economy. They cannot believe the premises underlying their supposed economic theory.

    I believe they are telling the gullible public this line of mumbojumbo to make it sound like they are boldly taking action for a noble cause, with the promise of some crumbs of unearned wealth tossed to the crowd to head off any opposition.

    I think they know the game is almost up, and the strategy is to dribble the collapse out long enough to get a majority of people totally dependent on the bureaucracy, so that when the collapse is total the public will demand that the government take care of them by any means necessary (and we know what those means will be).

    Even if they believe this Keynesian nonsense, their pragmatism will lead them to this strategy anyway. But I don’t think they believe it. They are moving ahead on multiple fronts simultaneously, setting the stage for the next stage of their revolution. By their actions, we shall know them.

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