Barack Herbert Hoover Obama? by Brad DeLong

-------- Original Message --------
Subject: FWC: Barack Herbert Hoover Obama?, by Brad DeLong
Date: Tue, 26 Jan 2010 06:23:47 -0800
From: Jas Jain
To: Jas Jain
CC: ,

Comments on articles from

• NY Times: Obama to Seek Freeze on Some Spending to Trim Deficits
  and
  
• ypepad: Obama Wants to Limit Government Spending Despite High Unemployment and a Fragile Economy

I take serious offense at equating Obama to Herbert Hoover, an honorable man and a builder (he was a great engineer-geologist and quite successful). On the other hand, Obama has been a propagandist all his life.


Economic policy debate in America is a theater. Here we have two rogue economists, Mark Thoma and Brad DeLong, criticizing a compromised politician, something Americans take for granted these days, who is scared now and must contain spending if he were to have any chance at reelection. There is a clear voting majority in America, in both parties, that wants debt to be controlled and if Obama does not listen to them then his party and he would be finished.

We have had a succession of dishonest and dishonorable men—Greenspan, Clinton, GW Bush, Bernanke and Obama—in top jobs who have served the crooked bankers at the expense of the vast majority of Americans over the past 25 years. The three Republicans in this group qualify as evildoers because of their role in pushing debt on households (by allowing reckless and bad mortgages to continue despite hundreds of warnings) via the Housing Bubble in order to hold on to power. The Housing Bubble became a necessity in 2002 for Greenspan and GW Bush to hold on to power and the Crisis that took place during 2008-09 was fully scripted and the rogue economists were either silent or in support to make the economy grow at all costs. We have at least two rogue economists in the White House, Larry Summers and Jared Bernstein.

Aren’t Americans lucky to have rogue economists in addition to corrupt politicians in policymaking positions? There is absolutely no hope for a better America. Only ignorant and weak human beings with slave mentality prefer to be ruled by dishonest and dishonorable men, qualities necessary to succeed in the propaganda battle!, that the modern democracies bring to power. The same applies to economists who want to succeed in the propaganda battle. That is why we have more and more rogue economists in and out of academia. Free market in action! Honesty would not get you very far in economics and politics in America.

Jas