NC Chapel Hill's Prof. Salemi called Ron Paul's rationale for returning to the gold standard "one of the most dangerous ideas put forward by a politician in recent years."
And of course, there's the idea of waging a trade war with China that was bandied about by Rick Santorum and Mitt Romney at a recent debate?
"If we learned anything from the Great Depression it was that starting a trade war by passing new tariffs leads to reprisals," Salemi said. "In the end there are no winners, only losers."
NOTE: The article does NOT critique the 9-9-9 plan or other FLAT TAX proposals.
A hit piece by babyboomer run CNN to make conservatives look stupid.
More Marxist propaganda from CNN !
All the flaws by the Republicans COMBINED do not.come.close to matching Hussein’s fundamental retardation in all matters involving money matters. Hussein HATES capitalism. HATES IT.
These leftist indoctrinators think you can spend your way out of bankruptcy yet have the nerve to criticize others.
What could be more persuasive than a college professor quoted by CNN?
Dr. Phillip Barbay: ...now, not withstanding Mr. Mellon’s input. The next question for us is where to build our factory?
Thornton Melon: how ‘bout fantasyland?
Thornton Melon: Oh, you left out a bunch of stuff.
Dr. Phillip Barbay: Oh really? Like what for instance?
Thornton Melon: First of all you’re going to have to grease the local politicians for the sudden zoning problems that always come up. Then there’s the kickbacks to the carpenters, and if you plan on using any cement in this building I’m sure the teamsters would like to have a little chat with ya, and that’ll cost ya. Oh and don’t forget a little something for the building inspectors. Then there’s long term costs such as waste disposal. I don’t know if you’re familiar with who runs that business but I assure you it’s not the boyscouts.
Dr. Phillip Barbay: That will be quite enough, Mr. Melon! Maybe bribes, kickbacks and Mafia payoffs are how YOU do business! But they are NOT part of the legitimate business world! And they are certainly not part of anything I am doing in this class. Do I make myself clear, Mr. Melon!
Of course because in the real world ideas have to actually work rather then in the class room where any nonsense that sounds good is taken seriously.
For example Marxism is though wonderful by some Economic professors. It is the best example of a class room theory that completely fails every time it is tired in the real world.
No recognition of spending cuts?
Economics lessons from liberal journalists?
Thanks but no.
I’m looking for the articles written and statements made by these ‘professors’ when Obama was pushing health care and stimulus. If anyone else has found them, let me know.
“They are promising things that are impossible to deliver or make little sense.”
Unlike a few short years ago...
The planet will begin to heal.
I will lower the seas.
The world will love us again.
You gotta spread the wealth around.
You can’t heat your house to 72.
You can’t drive your SUV.
Hope! Change!
The Gold standard has been “THE WORLD STANDARD” for thousands of years (as along as countries, kingdoms, tribes, etc have been in the Gold business) up until Nixon changed it in 1972.
The Professor is defending the current Fiat System where we print money out of thin air. The current Fiat money system has us getting close to the brink of the Abyss and the complete collapse of our economy. It is the Fiat system that enables the Federal government to spend money like there is no tomorrow. It also enables a slow creeping inflation as our currency devalues. The purpose of the Federal Reserve Chairman (put in by Reagan) was to prevent inflation (aka a hidden tax on everyone and every thing)
China is already at a trade war with us. We do not tax their imports, but they tax ours. China tweaks their currency too in order to screw us. Oh and we had tariffs on on all foreign goods and services since the inception of our Republic up until 1996 when NAFTA was passed. BTW, we were a Super Power in 1996 and had been one since WWII. To say it would create war is rubbish!
The Prof said “”If we learned anything from the Great Depression it was that starting a trade war by passing new tariffs leads to reprisals,” Salemi said. “In the end there are no winners, only losers.”????
What the heck is he talking about? What is he implying the Great Depression was caused by a trade war? LOL! I can assure you a “Trade War” with another country had NOTHING to do with the Great Depression.
The reason why this BIG GOVERNMENT Professor likes the current system (that's imploding by the way) is because it enables the Government to have the finances to go without any fiscal restraints.
What utter nonsenses comping from this “genius” Professor!
And therein lies the failed economic policies of this administration.