Sunday, March 9, 2008

George W. Bush, PhD. Economics

In the spirit of the insanity outlined in Why Me's recent post on the IRS, I found this article quoting President Bush:

"I know this is a difficult time for our economy, but we recognized the problem early and provided the economy with a booster shot," Bush told reporters at the White House on Friday. "We will begin to see the impact over the coming months."

President Bush was supported that day by Edward Lazear, Chairman of the Council of Economic Advisors, when he stated that "Most observers -- outside observers as well as those in the administration and in Congress -- believe that the stimulus package will work."

In case you are like me and find this to be a big stinking pile of horse*&%@, I am happy to provide our readers with these useful links:

1. Tax Rebates Will Not Stimulate The Economy, Heritage Foundation
2. Stimulus Package Is Welfare, Not Tax Cuts, Cato Institute

What is the appropriate role of government when it comes to moving the economy? I guess to tie it back into our theme of "An inconvenient document", I would have to rely on the framers:

If industry and labor are left to take their own course, they will generally be directed to those objects which are the most productive, and this in a more certain and direct manner than the wisdom of the most enlightened Legislature could point out. . . [A]ll are benefited by exchange, and the less this exchange is cramped by Government, the greater are the proportions of benefit to each.
—James Madison

Dear President Madison, Please help! Our nation needs you. We are lost. Our legislative branch is more fascinated with the possibility that athletes "may have taken steroids" than the weakening economy. The sage advice proffered by you and your colleagues has fallen on deaf ears. I hope that we can remember that the principles of our republic are just as important today as they were when it was formed.

Sincerely, TMF


mcm said...

I don't think James Madison anticipated the production of Hannah Montana branded items. While in the short-term their manufacturing certainly provides a boon the Chinese prison wardens who oversee industry and labor in that country, their sale here creates numerous negative externalities, not the least being an excrescence of bad taste growing out of our affluent populace. I'm also guessing that Madison meant by "most productive" something like "useful." If he were here he would be horrified by much more than the stimulus package.

TMF said...

How is Hannah Montana not "useful"? I came across this on the Disney site: “We’ve started off 2008 with another outstanding quarter, marked by strong creative and operational performances,” said Robert A. Iger, president and chief executive officer. “These results once again highlight the quality of our content and our unique ability to leverage it across our many businesses and territories.” I would think that our retirement accounts benefit from those that by her products. Thanks Hannah.

why me said...

I believe the concept here is THE FREE MARKET. While true that Madison could not have predicted Hannah Montana, (hell a couple of years ago nobody else could have either), but the specific brands are not the issue. The issue is the roles that brands such as Hannan Montana play in driving the market, and thus the economy. I guess it would be a better world if the guvment regulated our tastes. Maybe you're point would carry credence in an Orwellian world, but this is still a Capitalist society. Despite what the Hildabeast and Barack think.

mcm said...

In support of this market driving behemoth, I expect to see both of you wearing Hannah Montana shoes tomorrow. They're all that's available for 6-year olds; would that that market demographic extended to you. I also think you both need to buy some Celine Dion CDs. I know you're not fans, but show some solidarity with her economy-growing genius. Throw those John Zorn CDs away.

And in regard to the "FREE MARKET," I think you need to reconsider your previous post about throwing Britney Spears into the ocean. She's made $100 million for herself and certainly more for the "Horrifying Crap Sector Fund." Shaving her head like Squeaky Fromme and attacking cars with umbrellas fuels the economy and appeals to the unaffected tastes of the people. Now get down to WalMart and pick up some stuff.

why me said...

Ya want me to pick up anything for you while I'm there? A copy of Mein Kampf or The Communist Manifesto perhaps? Wait you probably already have those right?
The point of the free market is if I don't want a Britney CD or a pair of shoes with Hannah on them then I choose not to buy them, however for the many 6th graders that do want Hannah on their shoes they can have them should parents choose to buy them. Free Market=Freedom of Choice to buy whatever crap you want. For example look at all the Garrison Keillor paraphernalia that you have!

mcm said...

Wow. Walmart has a wider selection of books than I thought.