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Friday, July 29, 2011

Who can explain Obama's persistently fallacious economics?

The Keynesian basis for Obama's policies (the idea that giving the feds new credit cards with higher limits at every turn) was refuted long ago, by Say, Bastiat, Mises, Woods, Norberg and above all Hayek (see the business cycle theory in "Prices and Production").  These policies actually cause the recession, unemployment (and inflation) that they are then invoked to "solve," in a never-ending cycle of impoverishment (particularly for working class and African American people, whose primary assets, their houses and jobs, did not "recover," even as Obama's stimulus re-inflated upper middle class white people's stock values.  Obama's racist policies cause the wealth gap.

But let's just take a micro-aspect of Obama's witch doctory:

Does anyone want to step in and explain Obama's persistently fallacious economics? If the federal government's credit rating is downgraded that will make it more expensive for it to borrow -- not anyone else. Potentially it could keep it from borrowing as much, and leave more credit for private and other borrowers, lowering their rates.

Are all Obamanoids such irrationalist mystical collectivists, "thinking" in metaphors, flights of faith, and reified non-entities, that they think the federal government's credit rating is identical to "America's" credit rating?