Barack Obama is already making the Clinton and Bush years seem like the good old days. Close to a trillion dollars are being tossed around in a “stimulus” package that no one in his right mind — and I do not here include the mainstream of the economics profession, which has disgraced itself in this crisis — expects to bring about recovery. Economist Robert Wenzel rightly describes the stimulus as “just the insiders raiding the till while there is still money in it.” Trillions of dollars are likewise being thrown at financial institutions that (if we actually believe in the … Continue reading Banana Republic, USA