October 30, 2010 08:20 AM UTC

The Price of Getting It Wrong

• 2 Comments
• by: JO

Blather is cheap. Except for this:

Economic policies have a real impact. Blather can lead to wrong policies that have a real impact. Remember Japan the Economic Superpower? Don’t hear much about that nowadays. Here’s an explanation:

“U.S. Hears Echo of Japan’s Woes.” NYT. http://www.nytimes.com/2010/10…

Essential point: wrong economic policy in Japan (deficit reduction measures that choked a nascent recovery) led to a decades long economic slump that has never ended. I have no confidence that right-wingers on this site will go to the link, or accept the parallels. The arguments from that side that I read here, and elsewhere, show no appreciation of economic theory at all, as I’ve said before. Rather, it’s household economics writ large: Broke? Stop spending. IF you can’t accept that this is NOT always the right course, then you’re a True Blue Republican, and no amount of evidence is going to change your mind.

AND you are likely to sing hymns of praise to Leader Boehner and his brothers/sisters as they do everything in their power to achieve their One and Only Goal: Bring Down Obama.

Except that it isn’t Obama they’re likely to bring down. It’s the American economy, the American middle class, those whose idea of politics is to dress in quaint costumes (if not pretend to be members of the SS on weekends).

Doesn’t matter whether you agree with me or not. We shall see.