There is no free in liberty.


Thursday, June 14, 2012

Obama Says Our Keynesian Recovery Will Take 10 Years...


President Obama, speaking this afternoon in Cleveland, seemed to celebrate the unemployment rate of 8.1 percent, and said it "typically take[s] countries up to ten years to recover from financial crises of this magnitude." 

Well, that is about how long the Great American Keynesian Depression lasted before the economy rebounded on the strength of reconstruction after WWII.  Europe perennially embraces Keynesianism and staggers at the best of times while  at the worst of times teases collapse. And Japan's 10 year  15 year 20 year Keynesian recession has yet to find prosperity.

I believe Obama is on the something here.


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