Any idiot knows that spending money does not lead to prosperity. It is saving, investment and production that result in increased wealth. The problem is that we are overrun with those who lust after power and those who covet other people’s money. That coalition is a majority. And reason is foreign to them. They are run by their base and immature desires.
“Any idiot knows that spending money does not lead to prosperity.”
Well, actually the point of the editorial was to say there are blithering idiots like Larry Summers and Barack Obama who actually disagree with that assessment. Fortunately, there are real leaders in the world such as Angela Merkel who are more inclined to take an “evidence-based” approach to fiscal and monetary policy. These leaders will rebuff Obama’s self-serving efforts to convince them that the solution to a hangover is another round of drinking.