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Politics : Mainstream Politics and Economics

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To: koan who wrote (54454)	10/5/2013 10:55:58 PM
From: FJB	Read Replies (2) of 85487

David Stockman Explains The Keynesian State-Wreck Ahead - Sundown In America Submitted by Tyler Durden on 10/05/2013 - 18:38 David Stockman, author of The Great Deformation, summarizes the last quarter century thus: What has been growing is the wealth of the rich, the remit of the state, the girth of Wall Street, the debt burden of the people, the prosperity of the beltway and the sway of the three great branches of government - that is, the warfare state, the welfare state and the central bank... What is flailing is the vast expanse of the Main Street economy where the great majority have experienced stagnant living standards, rising job insecurity, failure to accumulate material savings, rapidly approach old age and the certainty of a Hobbesian future where, inexorably, taxes will rise and social benefits will be cut... He calls this condition "Sundown in America".

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