by Monty Pelerin
Monty Pelerin’s World
The amazing Obama “Recovery”, now in its seventh year, roars ahead. NOT!!!!!!!!!!!!!
As this site has maintained since its inception more than six years ago, there is no recovery nor can there be one given the disincentives associated with ObamaCare and other debilitating regulations. No amount of fiscal or monetary policy can offset the adverse and counterproductive policies imposed on entrepreneurs and other economic decision-makers. Attempts to counteract these negatives via macroeconomic policy will continue to fail while adding to the gross misallocation of resources, price distortions and squandering of capital that has already occurred.
The insanity of these policies is striking, but they will continue. It is the only defense the political class (the modern day Wizard of Oz) has. For the political class to admit its wrongs is to undermine the entire Statist apparatus, the arrogance of central planning and the very necessity of the State itself.