The End Of The World

If you listen to Chris Matthews and Jim Cramer you would think that 10% unemployment was the end of the economic world. The problem is we are not there now (although we could to be sure) and we have seen worse. This kind of hysteria helps no one and hurts many. PERSPECTIVE.

httpv://www.youtube.com/watch?v=E01ou2JyqMM

Ed Morrissey provides perspective here and here.

All of this hysteria goes to one purpose: to create a sense of panic that will make any government intervention seem rational and reasonable.  Instead of taking policy one step at a time, schemes and plans get made only to be eclipsed by even more grandiose schemes and plans without ever having tried anything else first.  The TARP plan was never even given the chance to work, thanks to a panicked Secretary of the Treasury who literally begged for its funding and then used the money to start nationalizing private enterprises.

Read the whole post. Oh and how about this on the “New Deal”

Just how divided are experts? In 1995, economist Robert Whaples of Wake Forest University published a survey of academic economists that asked them if they agreed with the statement, “Taken as a whole, government policies of the New Deal served to lengthen and deepen the Great Depression.” Fifty-one percent disagreed, and 49 percent agreed. Whaples today says that the New Deal remains a thorny issue for economists because it’s so difficult to measure the effects it had on the country. “You need a credible model of the economy, and not everyone is going to agree on what that model should be,” he says.

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Jim Vicevich

Jim is a veteran broadcaster and conservative/libertarian blogger with more than 25 years experience in TV and radio. Jim's was the long-term host of The Jim Vicevich Show on WTIC 1080 in Hartford from 2004 through 2019. Prior to radio, Jim worked as a business and financial reporter for NBC30 - the NBC owned TV station in Hartford - and as business editor at WFSB-TV in Hartford for 14 years while earning six Emmy nominations and three Telly Awards.

2 Comments

  1. Rick-WH on January 9, 2009 at 12:43 pm

    The expressions on Jim Cramer's face are priceless!

    Cramer better get himself some tranquilizers. 

    The Obama "Stimulus Bill" is not passing so fast.

    It is still unclear to me how Obama's proposal is going to make anything better.

    Maybe Cramer should get a laxative as well…maybe that's his problem.



  2. Rick-WH on January 9, 2009 at 12:56 pm

    Jim Cramer, this one's for you.

    Even back in 1965, some were already wondering – is this the end of the world?

    http://www.youtube.com/watch?v=Qgcy-V6YIuI&fe

    (somebody get wardrobe and the hairdresser for her)



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