Faith healers

This is the perfect chart to introduce this post about my previous post from Krugman, bootlicker-in-chief to Obama regarding the economy. In case you aren't familiar with his work, he has a column in the New York Times called "The Conscience of a Liberal" (Seriously! Yeah, I didn't know liberals were also allowed to have consciences either. Paul (Krugman)? If you're reading this, I should let you in on the secret that have strong feelings that everyone else should be forced to do whatever you feel would be nice is called fascism, not conscience.)

So, let me get you up to speed on Krugman in case you have missed his work. Everything he has written so far boils down to, "Everything Obama does is right and smart, no matter how bad the results are. Oh, and no matter what happens, keep borrowing and spending money." That's pretty much it.

Anyway, he's on target that we have started the sharper slide into the third depression, the biggest one. The reason he gives is silly. He says it's because nobody has spent enough money to solve this problem of not enough money and too much debt. Keynesian's like Krugman remind me of old'fashioned faith healers. Their pitch was that the faith healer should get paid either way. If you were healed, then you're welcome. If you weren't, shame on you for not having enough faith. That's these guys to a tee. When Keynesian stuff doesn't work they say you just did it wrong and it's your fault, because it should always work no matter how many times it has failed (a lot). shame on you for doing it wrong.

And the chart above? It shows that we are far beyond the point where blowing more Chinese money would help anything. It goes down the rat hole and sucks down more money in waste, fraud, interest, etc. with it.