Robin Harding explains why David Stockman doesn’t know what the hell he’s talking about: “David Frum” and inflation “at 1.3 per cent”.
Robin Harding explains why David Stockman doesn’t know what the hell he’s talking about: “David Frum” and inflation “at 1.3 per cent”.
Robin Harding cited Frum’s criticism as having come from someone on the “right”. That pretty much sums up all I need to know about Harding. The only criticism of Stockman that wasn’t essentially ad hominem was the current absence of inflation which can be explained away as contained by a lack of money supply velocity due to institutional de-leveraging – for now. Peter Schiff agreed with Stockman.
The only criticism I have for Stockman’s essay was his tendency to pick on Republican progressives harder than Democrat progressives, style over substance.
Yes, the addition of Frum as “from the right” indicates all you need to know, about Harding and the state of the right in the US.
I think Stockman is quite correct. After the stagflation of the ’70s and the 20 years of Japanese experience, I really am perplexed as to how these people still believe in Keynesianism. It’s a group think rather like those that believe that man is increasing the temperature of the planet.
Oh, wait, these ARE the same people.
Frum is on the right like Joe Clark was on the right.
Joe Clark was the most valuable politician for PET’s government.
Stockman should know better than to speak the truth under the current fascist regime.
From the comments:
“Fascism – 1. A rigid, doctrine, government, method, belief system or political movement characterized by covert or forcible suppression of opposition; 2. The doctrines, methods or movements of people with fascistic inclinations; 3. A system of government typified by rigid, one-party dictatorship, violent expurgation of opposing media, private economic enterprise under centralized governmental control, belligerent nationalistic or religious views accompanied by terrorist actions towards those of other nations or religions; 4. Overt and/or covert suppression of freedom of speech and personal freedom by governments, religions or political movements based on these doctrines.”
All this money being printed is going where?
Banks? Stock market? Government debt?
All this money being printed is going where?
Banks? Stock market? Government debt?
Nope.To the muzzies,palis,etc plus the Chimp in Chief and his handlers plus green scams. Oh yeah. And to ammo and toys for various gubermint “agencies”.
Hmmm pretty odd someone on the left disagreeing with Frum – I bet that doesn’t happen often.
The racism added to your comment makes it a useless comment. If you can’t avoid racism then please don’t comment here.
Well!! shock and horror!! David Stockman is not getting Washington dinner invitations!! That’s the way Amurrica ends, kiddies – when the greats of the country worry about their dinner invitations, about whether they can get enough of the dolce vita in Washington.
Robin Harding’s article contains a rather clever distortion or even reversal of Stockton’s arguments. And the suggestion that Stockton has aroused considerable animosity, has perhaps even perturbed the Washington dolce vita, is evidence that he is correct.
The fact of the matter is that the CPI in the US (and Canada) has barely changed over the past five years or so, despite a massive increase in the money supply.
Maybe Keynes wasn’t wrong after all. Or rather, it makes sense to take penicillin to cure pneumonia. It is wrong to take penicillin to build muscles.