Watch Out Economy...The President Is Coming!
Tom Woods, in a wonderful talk at Mises University, describes perfectly some of the errors in judgement that many people still hang onto:
For the average person, the idea of a planned economy has been discredited with the collapse of communism. But yet, in the back of his mind, I think, he still believes there's something sort of plausible about it. Gee, it does seem to make more sense, with all the different things that need to be produced, and all the different resources scattered over all the geographical areas all over the world...Surely it would be better to have a guy, or a committee of people who would bark out orders at everybody to make sure everything gets done the right way. Surely that would be better than just saying, 'alright everybody go ahead and do whatever you feel like doing.' That's just gonna lead to chaos. No way that could be the best outcome.And yet, oddly enough, it is.And that is counter-intuitive. It certainly is counter-intuitive to the average person.The average person, I think, looks at the social world through a military sort of lens. The average person, through grade school all the way to high school and college is sort of taught a kind of military model of society. "If you wanna get things done, you need somebody in charge. Because look at how armies get things done. There's someone in charge, and man, they can destroy a lot of things." Yep. I wonder if anyone pauses to note that's all they do?Destroying things is kinda the easy part.
Now let's look at what The Washington Examiner is reporting, and how Woods' accurate description is lived out in the real world (my emphasis):
“This Wednesday, almost five years after the financial crisis fueled a devastating recession, and two years after a debate over whether or not America would pay its bills that harmed our recovery, the president will return to Knox College to kick off a series of speeches that will lay out his vision for rebuilding an economy that puts the middle class and those fighting to join it front and center,” Dan Pfeiffer, Obama’s senior adviser, said in an email to supporters late Sunday.“He’ll talk about the progress we’ve made together, the challenges that remain, and the path forward.”
This type of erroneous thinking fits Woods' description to the letter. The entire idea is a fairy tale (though more like a nightmare).
“The president thinks Washington has largely taken its eye off the ball on the most important issue facing the country,” Pfeiffer said.
Whatever happens to be in Washington's crosshairs...or, whatever Washington puts "its eye on," it inevitably destroys. (Here's a good place to mention Detroit).The economy is already twisted into a giant Gordian Knot by both Washington and The Fed. If Obama plans on turning his (and Congress') attention to it, the economic pain that is currently destined for us, will only get more fuel for which to burn.
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