Aug
30
Austan Goolsbee, Liar
Filed Under Economics
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Austan Goolsbee | ||||
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Two “answers” which speak volumes of our leaders:
- At 1:12, Jon Stewart asks “Are we broke?”, Goolsbee replies “No”.
Bizarre. It seems that a country running trillion dollar deficits and unable to function without borrowing money could be classified as “broke”, but not to our leaders.
- At 4:20, Goolsbee says: “When you’re looking in the face of the next Great Depression that’s not the time to tighten the belt”
Indeed, when has there *ever* been a time when either party thought it would be a good idea to tighten the belt and stop borrowing? Heaven forbid we curtail spending on military/”the children”/retirees/politically connected segments of the population.
Takeaway: Leaders will do what it takes (lie, obfuscate, deceive) to accrue political capital. It is not in their interest to be honest with us, especially when our borrowing/spending based economy relies on confidence that “everything will be ok”. A system heading over a cliff due to instability cannot be solved with more of the same pathetic ideas (reliance on debt, policy tweaks) that got us here.
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This video is what you get when you cross a guy who has never started a cnmapoy and a book titled Crossing the Chasm . This business illiterate takes the principles of the book and twists them into a call for government intervention that startup companies neither want nor need. There is plenty of access to capital through incubators, seed and angel investors and VC’s. The government can’t identify its own programs that fail. Why should anyone trust them to make wise investments?