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To: koan who wrote (263907)	7/25/2010 5:59:50 PM
From: pstuartb	Read Replies (2) \| Respond to of 306849

What you are presenting me with there is a simple dogma i.e." I know the correct theory and everyone else is wrong." Not at all. I'm not in either camp, though I can see how you might assume that from my post. I think it's clear that the main-stream Keyensians who were in control over the last decade radically underestimated the downside risks to their policies. Recent history has proven Greenspan wrong. Bernanke has continued the same policies and even stepped them up in a huge way. It's also clear that a small but vocal group of debt-averse adherents to the Austrian school had a pretty good idea what was coming in 2008. I think they deserve credit for that. Their view of where we are likely headed (hell in a hand basket) given the government response over the last year and half makes sense to me. But there's a social darwinist aspect to the hard-core Austrian-types that I don't like. Certain kinds of safety nets for the public are necessary. I agree with you there.