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To: stockman_scott who wrote (194540)4/2/2009 8:45:45 AM
From: Les HRead Replies (1) | Respond to of 306849
 
"Now, at 97, Worsley is watching as Obama wrestles with the deepest economic slump since the Great Depression and is coming under fire from critics at home and abroad over his spending plans. Ultimately, Worsley said, only World War II delivered the U.S. from its hard economic times, and he advises Obama to keep pumping money into the economy."

So he's saying that the economy eventually recovered because World War II took potentially productive assets out of commission through sustained bombing. That tends to argue against economic stimulus since it puts off the clearing process that's necessary.



To: stockman_scott who wrote (194540)4/2/2009 9:17:01 AM
From: TommasoRespond to of 306849
 
>>>When John Maynard Keynes came to Washington in 1934 to persuade President Franklin Roosevelt to spend more to revive the U.S. economy, Roosevelt didn’t pay the British economist much attention, Thomas Worsley recalls. He hopes President Barack Obama won’t repeat Roosevelt’s mistake.
<<<

If he thinks Obama is not spending enough, he is simply insane.


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