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Is Joe Biden Insane, Stupid, or Pure Evil?

The_TimThe_Tim
edited July 2009 in The Economy
VP Joe Biden (via Mish):
Joe Biden wrote:
I know, that the status quo is simply not acceptable. It's totally unacceptable. And it's completely unsustainable. Even if we wanted to keep it the way we have it now. It can't do it financially. We're going to go bankrupt as a nation.

Now, people when I say that look at me and say, "What are you talking about, Joe? You're telling me we have to go spend money to keep from going bankrupt?" The answer is yes, that's what I'm telling you.
I suggest that anyone who would insist that as a nation we must spend our way out of a massive financial hole—spend like crazy to avoid bankruptcy—must be one of three things:
  • Insane
  • Stupid
  • Pure Evil

Which one is it?

Comments

  • ira sira s
    None of the above. We all have some friend or relative who just spews crap out of his/her mouth before the brain engages. I think Biden is in that category.
  • WestSideBillyWestSideBilly
    Wouldn't that qualify as stupid? :lol:
  • rose-colored-coolaidrose-colored-coolaid
    To be fair, there is such a thing as an economy that is stifled by too much saving; it's called China. They have relied on our spending to alleviate their own issue of over-saving. With American wallets drying up, they will need to come to face with this new reality.

    So it's not like his advice is always stupid, it's just that it's wrong-headed if the problem your economy is facing is over-consumption. I think what it comes down to is the "if all you have is a hammer" analogy. Every recession we've gotten ourselves into in the past required renewed spending to escape. But then, how many previous recessions were directly caused by negative savings rates at every level of the income brackets?
  • MarkorMarkor
    Biden makes sense to me. Our economy has long been a house of cards, dependent on overconsumption and overpopulation. Without massive spending it comes crashing down sooner than later. The spending can't be wasted though, which it is, so it'll come crashing down. The majority support more Moon missions, even a Moon base, at a cost of more than $1 trillion, all borrowed. Today I read about a $19 million program to create artificial Moon dust. We're repeating the lunacy that led to famine in China.
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