The shallowness of President Barack Obama is unbounded. The gap between his ability and his self-assessment is greater than any other public figure of my lifetime. Nowhere is his incompetence and ignorance more apparent than when he discusses economics and/or the economy. Brian Garst, borrowing Hayek’s famous observation regarding the liberal elite, described Obama’s recent [...]
Tag archives for fatal conceit
Progressivism on Display
The flavor of progressivism is demonstrated nicely by this piece: The Audacity of Progressivism by Andrew Mellon Recently, I got into a big fight with my cube-mate. After attacking him for his listening to Bill Maher during the workday, he shot back and mocked my Glenn Beck listening. As if there was some moral equivalence [...]
Victims of Keynesianism
Peter Foster has a good discussion of Keynesianism and its failures, mostly as related to Europe. The same comments apply equally here. Keynesianism is a disease spread by what Hayek termed “the fatal conceit.” It ends up slowing growth, vitality and eventually standards of living wherever it is applied. In the US, growth and vitality [...]
Bernanke’s Fatal Conceit
In a recent post regarding hyperinflation, I criticized Ben Bernanke for believing that he knew enough to manage the economy. His confidence in managing interest rates and withdrawing excess money from the system is particularly galling. The criticism was not directed at Mr. Bernanke’s intelligence but at his hubris. No one is capable of doing [...]
Bernanke on Abolishing the Fed
It appears that Ben Bernanke is achieving what Ron Paul and others before him could not do. That is, Mr. Bernanke may be the one to actually destroy the Federal Reserve. If Mr. Bernanke accomplishes this goal, we should all be thankful. He is deserving of a statue in the Free Market Hall of Fame, [...]
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