Replies to post #200606 on Tornado Alley (PROG)

[SilverSurfer]

Maybe Stockman is concentrating on the present day situaion and solutions intead of being transfixed on beating that dead horse.

[StephanieVanbryce]

he has really damaged his 'already 'frail' reputation on this one ... every economist out there .. is just shaking their heads .. and some even say they are really disappointed as he has done some halfway decent work in the past .... and this ? ... well, what more can anyone say except ... he's on a book tour, i'm sure he's already been on cnbc.. lolol ........I'll get you that one he wrote on his 'reagan years' ... ;) I think I will anyway, IF it doesn't take too much effort ... I know Alex posted and perhaps other people did too on different boards than Alex ... ;)

[StephanieVanbryce]

here's one - Reagan budget director David Stockman says America's current economic woes are the fault of the Republican party.

"Republicans used to believe that prosperity depended upon the regular balancing of accounts -- in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance -- vulgar Keynesianism robed in the ideological vestments of the prosperous classes."

"This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one."

MORE. . .
http://www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1

Thanks Alex ..!
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