The Random Thots Bird Dog points to current items of special interest. Occasionally, he flushes something out from the past that merits fresh attention as well. We recommend you use the links to read the full articles.
It was an act of war when we started bombing Libya. But the administration chose to call it “kinetic military action.” When the Federal Reserve System started creating hundreds of billions of dollars out of thin air, they called it “quantitative easing” of the money supply.
When that didn’t work, they created more money and called it “quantitative easing 2” or “QE2,” instead of saying: “We are going to print more dollars– and hope it works this time.”
Sowell has this to say about the government’s strategy of digging deeper to get out of the hole.
Those who are true believers in the old-time Keynesian economic religion will always say that the only reason creating more money hasn’t worked is because there has not yet been enough money created. To them, if QE2 hasn’t worked, then we need QE3. And if that doesn’t work, then we will need QE4, etc
Henry Morgenthau, Secretary of the Treasury under President Franklin D. Roosevelt, said confidentially to fellow Democrats in 1939: “We have tried spending money. We are spending more than we have ever spent before and it does not work.”
Paul Krugman, are you listening?
Some headlines worth a Google
No immediate boost for Obama in the polls
Bin Laden living in the same house for 6 years
The couriers‘s fatal phone call
Waterboarding gets the credit