This morning on CNBC’s Squawk Box, the guest host was ex-Dallas Fed head Bob McTeer. He handed out the usual baloney, that Keynesian economics is the cure for what ails us; that Keynes was a great investor [think he might have had insider info?]; that Keynes’s ‘paradox of thrift’ is true, that is, that saving is wrong and we we should spend every depreciated dime. He has shilled, no surprise, for every bailout and other Fed theft. That is, he is typical state official. So why was I livid? Because McTeer has been endlessly praised by regime libertarians as a free-market, sound money guy. They have given him the Adam Smith Prize, and a plush no-show job at one of their many think-tanks. When he issued, with printing press money, a very expensive publication praising Frederic Bastiat, this was held out by “libertarians” as a libertarian act, rather than the use of a great and good man to cover evil.
I only met once the head of the “libertarian” think-tank that has done the most for McTeer. He immediately launched into a vicious and personal attack on Murray Rothbard. But then, that is the calling card of anyone on the Koch Brothers’ payroll.10:19 am on March 6, 2009 Email Llewellyn H. Rockwell, Jr.