The Telegraph, a newspaper in the United Kingdom, is detailing how the money supply in the United States is contracting at rates not seen since the Great Depression. Banks are receiving a mixed message as the administration decries the lack of lending while at the same time forcing them to carry more cash in reserves to prevent and sort of collapse. How are you supposed to lend more money and keep more money on hand at the same time?
In the meantime, the idiots running around still worshipping John Maynard Keynes and his economic theories that have been debunked over and over and over (simple logic experiment, if government spending is economically stimulative, why wouldn't we just constantly spend money and thrive?) are urging another stimulus bill. This is a path that Democrats, afraid of losing their majority in November, are all too anxious to accommodate. I tremble to think what they will do if they become a lame duck Congress.
In the end, this may be the greatest historical example of the abject failure of leadership by "intellectuals" (I use quotes because I personally think they are blind idiots). Only a moron sees an oil leak and talks about his Nobel prize winning physicist turned bureaucrat is on top of it when an engineer with some field experience is best suited to the job.
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