by Arnold Ahlert –
There is an economic paradox that few people understand, much less wish to acknowledge, because to do so would reveal the level of societal deterioration that has caused it. In simple terms, there are two schools of economic thought: one posits that massive amounts of government spending, aka stimulus in all its odious forms, is the only way to save an economy.
The other posits that until massive over-spending by government is brought under control, aka austerity, economies over-burdened by debts and deficits will continue to founder. Who’s right? There is merit to both arguments — but only because we’ve reached the aforementioned level of societal deterioration. Let me explain.
For decades, the growth of government both here and in Europe, has been inexorable. [Read more…]