Monday, February 9, 2009

The academic economists are silent... this is a silence of unindicted co-conspirators

...They say nothing, except when they say it is a good idea, because it is necessary, because we have got to save the banks, because we have got to regulate the economy, and, most of all, because the unhampered free market system really does not work. This is what we are getting from people who have generally been known as free market economists. They are lining up as cheerleaders as the banks go to the Federal trough. 
The Federal deficit soars into astronomical regions, and the monetary base soars just as fast, yet the academic economists are silent. This is not the silence of the lambs; this is a silence of unindicted co-conspirators, most of whom teach in tax-supported universities and spend their careers writing unreadable articles in unread academic journals in order to get tenure, so that the taxpayers can never fire them. 
These people are apologists for the State. Most of them have been on a public payroll all of their lives. These are the people who, in the name of conservative free-market principles, are supposed to stand in the gap to warn us that the ship of state is going over the falls.

Don't hold your breath.


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