What The Depression Teaches Us Is That

[i]f You Look At United States History Since World War Ii, You Find That Of The 10 Presidents Who Preceded Barack Obama, Seven Left Office With A Debt Ratio Lower Than When They Came In. Who Were The Three Exceptions? Ronald Reagan And The Two George Bushes.

What The Depression Teaches Us Is That When The Economy Is So Depressed That Even A Zero Interest Rate Isn't Low Enough, You Have To Put Conventional Notions Of Prudence And Sound Policy Aside.

Not All Private Equity People Are Evil. Only Some.

[i]n America, At Least, We Have A Pretty Good Record For Behaving In A Fiscally Responsible Fashion, With One Exception - Namely, The Fiscal Irresponsibility That Prevails When, And Only When, Hard-line Conservatives Are In Power.

I've Always Believed In Expansionary Monetary Policy And If Necessary Fiscal Policy When The Economy Is Depressed.