DamnYankee
Loyal to the end
Anyone remember the Madrid bombings in 2004? It was a terrorist act by radical Muslims in an effort to sway the elections. And it worked: Zapatero and socialists won and conservatives were tossed out.
As Prime Minister he pursued his socialist agenda. Although he inherited a booming economy the bubble burst so he did what any good Keynesian would do: he spent lots of money. Spain has spent billions on international airports, high speed rail, and expansion of towns and villages. The only problem: they are all empty. Unemployment is 20% and in March Moody's downgraded the credit rating to Aa2.
Keynesian economics doesn't work, it has never worked and we have a example of its failures right in front of us, happening now.
Yet The Obama, in response to S&P downgrading the creditworthiness of the US for the first time in history after doubling the national debt pursuing Keynesian policies, wants to spend more.
As Prime Minister he pursued his socialist agenda. Although he inherited a booming economy the bubble burst so he did what any good Keynesian would do: he spent lots of money. Spain has spent billions on international airports, high speed rail, and expansion of towns and villages. The only problem: they are all empty. Unemployment is 20% and in March Moody's downgraded the credit rating to Aa2.
Keynesian economics doesn't work, it has never worked and we have a example of its failures right in front of us, happening now.
Yet The Obama, in response to S&P downgrading the creditworthiness of the US for the first time in history after doubling the national debt pursuing Keynesian policies, wants to spend more.