Obama says there's some resemblance between the Great Depression and today's economy and he is correct. Fats Limbaugh disagrees and begins one segment of his 5/14/08 show with this:
RUSH: Folks, it's time for a little history lesson.
You know this is going to be a walk into wingnut world, especially since Fats has admitted that he doesn't know much about history. Fats then uses Google to find a couple of items about the Great Depression and takes exception to this part of one of them:
"market forces alone proved unable to achieve the desired recovery, and this painful discovery eventually inspired some fundamental change in the US economic nature. Government action, after the Depression, whether in the form of taxation, industrial regulation, public works, social insurance, played a principal role in ensuring economic stability."
This is wrong in Rush's World because he believes in the Free Market Fairy and doesn't believe John Maynard Keynes. The underlying point Fats is making is that Obama (and liberals) are Marxists, something wingnuts have been claiming for over 50 years. Fats goes on to severely misinterpret a claim about supply and demand:
Did you hear this? "For an economy to function properly, total demand must equal total supply." Zero-sum game. It's exactly what liberals think. You get a dollar raise; somebody loses a dollar. You get a job; somebody gets fired. Zero-sum game. They've always thought this. No growth, it doesn't happen.
Posts
No comments:
Post a Comment