Thursday, May 24, 2012
Okay. But it's our problem. A problem for people. It's not a problem for the economy. If you want jobs from the economy, you have to give the economy what *it* wants.
Of course everybody thinks they know what the economy wants: to cut the growth of government spending.
That's not it.
And now, to ruin a perfectly good brief statement, let me explicitly point out that I am *not* saying we must expand the growth of government spending. I am not saying we should cut it, and I am not saying we should expand it. What I'm saying is, the size of government is not the problem. The spending of government is not the problem. The debt of government is not the problem. The government is not the problem.
I'm saying we should stop talking about the government, and focus on the problem.
Excessive private debt is the problem.
We need to wipe out that debt, private debt, before life as we know it ends like a game of Monopoly.
Posted by The Arthurian at 4:00 AM