Abraham Delano Messiah Obama pronounced recently that it’s time to buy. I’m a tiny bit skeptical. The biggest explosion of government spending and debt EVER will depress the economy. An increase in income tax rates, capital gains tax rates, social security tax rates, and myriad other tax rates, will depress the economy further. Bailing out the Biggest Losers of the corporate world will cause a major misallocation of resources and depress the economy further. The explosion of money in circulation will cause more bubbles and busts, along with inflation, which will make economic calculation impossible, depressing the economy even further. A massive increase in regulation, along with nationalization, will create an even bigger fascist economy than the one we have now, depressing the economy even further.
Those Harvard grads (like Abraham Delano Messiah Obama) think they know everything, don’t they?
4:38 pm on March 4, 2009
