Robert Creamer: New Economic Data Shows that Right Wing Economic Theory Is Simply Wrong.
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Even as Republicans blather on about the evils of a so-called “government takeover of health care,” economic news has provided two new key illustrations that the intellectual foundation of right-wing economic orthodoxy has collapsed.
First, the most recent economic numbers on changes in Gross Domestic Product (GDP) and employment made it increasingly clear that — as The New York Times reported last Saturday — the Obama economic stimulus and the massive government intervention in the financial markets
#1 by Bear Minimum on August 14, 2009 - 11:47 pm
The NY Times? John Hussman Ph.d disagrees. We see no recovery in private investment or in the general economy over and above the 7% of GNP which has just been infused into the economy in the form of stimulus and is now our compounding debt as citizens.
Read here.
#2 by cav on August 15, 2009 - 3:37 pm
The Chinois Economistas have suggested that all the U.S. community colleges start offering Mandarin.
#3 by Ronald D. Hunt on August 16, 2009 - 12:22 pm
Now they need to kill the republican’s “Feed the Beast” theory and the ensemble will be complete!