January 27, 2010

The road to serfdom

The squillion dollar stimulus is Obama's sophomoric tribute to Keynes. The Obamans are so incompetent that much of it won't get spent, yet much will get squandered on Democrat-friendly bullshit. When you think that 40% of the Federal budget is borrowed money, it's like watching the biggest binge in history....big government, big wages, big pensions, big public employee voting bloc, big vampire squid on the face of America, big hangover; same in Britain. Keynes was a great thinker.....he was also wrong as this video proves:

Oh well, I may as well add a clip of one of Hayek's followers. This is from her last speech in the House of Commons. She'd been betrayed by her own party after leading it to 3 successive General Election victories and turning Britain from a dosshouse into a powerhouse. But in defeat she was clad in truth:

Thatcher's biggest mark domestically came in economic policy, when she rejected the ideas of the Keynesian social democratic consensus which had informed policy since 1945 in favour of monetarism, inspired by Milton Friedman and FA Hayek. The papers reveal little about the opposition to these heterodox views from the Treasury and other civil servants. Just two weeks after the general election, she was writing to Hayek: "I am very proud to have learnt so much from you over the past few years. […] As one of your keenest supporters, I am determined that we should succeed. If we do so, your contribution to our ultimate victory will have been immense."

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