[Lurker]

It is amazing how some think that Gubamint should be entitled to whatever it wants as long as its leaders think it is OK or deemed necessary.

Yep. Well that whole "enumerated powers, limited Government, Federalism" thingy is just soooooooo old fashioned.

Well we've reached DeToqueville's tipping point. 50 percent of us think they can vote themselves money from the Public Treasury. It won't matter what the rest of us think for much longer.

L

[BILL_C]

Well we’ve reached DeToqueville’s tipping point. 50 percent of us think they can vote themselves money from the Public Treasury

I’m afraid it is more than 50%, much more.

[griswold3]

Obama looks set to make the same mistakes that every president and prime minister seems to make since John Maynard Keynes left kindergarten. Pay off debt with more debt, and pay back gambling debts with more gambling. It looks like a knee-jerk reaction by now, it’s the only trick they know.

http://globaleconomicanalysis.blogspot.com/2009/01/how-something-for-nothing-ideas-become.html
....the stagflationary 70’s killed (or rather I say should have killed), Keynesian theory given that the “impossible” happened (rising unemployment and rising inflation).

(Don’t believe in inflationary spiral? Try this:)

http://market-ticker.denninger.net/archives/703-Uh-Oh.....-Monetary-Flat-Spin.html

M1 has just gone below 1....