I trust the guy. Sometimes in a war you have to retreat and bide your time until you can get a clear show at the enemy - think Sam Houston retreating before Santa Anna after the fall of the Alamo until he caught the Mexican Army and destroyed it. If you read Ryan’s answer he is a very astute politician who understands what is possible and what is tilting at windmills.....I was impressed with his answer on TARP....that if the deflationary depression hit at that time we counld have had a complete run to socialism. Now, in 2013, when it threatens again we will have the congress and the presidency to take the medicine and time to let the economy heal.
The irony os that analogy is that ole Sam had to be talked into the attack. His plan was to provoke the Mexicans into following him closer to the Louisiana border, where Taylor’s force was waiting. Old Rough and Ready would have taken Santa Anna’s force apart. BUT Santa Anna may have been smart enough to stop short. IAC. he sure wasn’t expecting an attack, and Houston had learned war from Jackson.
Not at all, the economy NEEDS to deflate from the current inflation. The economy have too much money mis allocated. Too many industries are in a bubble. Some industries simply needs to go bankrupt so that viable ones can begin. Without this cleaning process, the economy will never recover. Its like a person on drug, needs to go thru withdrawal to cure itself. Ryan is saying, we need the drug to keep us from going into withdrawal as its painful. Deflation is not something we need to fight. Its capitalism cure for the system.
During Reagan, interest rate was set to 20% to deflate the money supply. We need something similar for this economy to recover