Secret Videotape of Obama Cabinet Meeting Unveiled!

Townhall.com ^ | March 16, 2014 | Daniel J. Mitchell

[Kaslin]

The headline of this post might not be completely honest. Indeed, if you asked me to grade the accuracy of my title, I’ll admit right away that it falls into the “if you like your plan, you can keep your plan” category of mendacity.

But I’m only prevaricating to set the stage for some satire about Keynesian economics.

But this satire is based on a very bizarre reality. Advocates of Keynesian economics such as Paul Krugman have claimed that war is stimulus for the economy and that it would be good if we were threatened by an alien invasion. As such, it doesn’t take too much imagination to think that conversations like this may have taken place inside the Obama White House.

Particularly since Keynes himself thought it would be good for growth if the government buried money in the ground.

So enjoy this satire from The Onion.

In The Know : Should The Government Stop Dumping Money Into A Giant Hole?

By the way, Krugman also said the 9-11 terrorist attacks would “do some economic good.”

So the folks at The Onion need to step it up if they want to keep pace.

Now let’s share a serious video.

I’ve written before about how the Food and Drug Administration’s risk-averse policies lead to needless deaths.

Econstories builds upon that hypothesis, using the Dallas Buyers Club to make excellent points about why markets are better than command-and-control regulation.

EconPop - The Economics of Dallas Buyers Club

Very similar to what Steve Chapman wrote about bureaucracy, competency, and incentives.

By the way, the bureaucrats at the FDA also have engaged in pointless harassment of genetic testing companies, even though nobody claims there is even the tiniest shred of risk to health and safety.

And nobody will be surprised about the bureaucracy’s anti-smoking jihad.

But nothing exemplifies brainless bureaucracy more than the raid by the FDA’s milk police. Though the FDA’s strange condom regulations might be even more bizarre.

It’s hard to decide when bureaucracies do so many foolish things.

P.S. The prize for the craziest bit of red tape still belongs to Japan, where the government actually regulates providers of coffee enemas, though the Department of Agriculture’s rules for magic rabbits is a close competitor.

[Paine in the Neck]

Advocates of Keynesian economics such as Paul Krugman have claimed that war is stimulus for the economy...

Broken Windows Falacy and, from Bastiat himself.

[crz]

Basically said is: The owner has to pay for the window and that money could be used somewhere else. So it amounts to zero gain. The money, if window not broken, can be used for other future purchases creating more economic value.

At least that is what I took away from it in our study of the critter at, Tech College...no less.

[crz]

In short, it amounted to capitol re-investment and not “New” capitol investment.

[bert]

As the glazier, for real, I spent the money received for reglazing the broken window to pay debts incurred from lack of business during the recession