Economically Destructive Bailouts, Again And Again!

Before the Keynesian craze there was enough independence between economists and government that, in general, economists acted as a restraint. Once the Keynesian quackery fell into the lap of the ego-driven interventionists the economics profession became cloudy indeed!

All of the sudden it was unclear to the masses whether the economists were speaking on behalf of the interventionists or were speaking on theoretical grounds. Things got even cloudier when the government used the media and the education system to ordain the interventionists as the official economics spokespersons.

This loss of independence continued to erode as the politicians adopted economic rhetoric in their election campaigns giving the impression that they had some knowledge of economics. Now we see these economic imbeciles parading around day in and day out as if having 99.9% of the members of Congress (and their indoctrinated economic advisors) in favor of unsound economic actions miraculously makes it less of a disaster.

As an economist - unbought and uncorrupted - and theoretically sound, I unequivocally state that all of these bailouts are improper, immoral, and economically destructive.

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