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.