“It’s the spending, stupid!” Or, is our problem actually stupid spending?

Who Spends Wisest?

by Shawn Ritenour 

The financial and economic meltdown of 2008 was preceded by large increases in government spending and monetary inflation that artificially lowered interest rates. Those interventionist policies fueled massive capital malinvestment, including housing and credit bubbles, all of which culminated in the greatest economic bust in 80 years. Our rulers’ response has been—you guessed it—large increases in government spending and monetary inflation that artificially lowered interest rates. They think (with apologies to James Carville), “It’s the spending, stupid!” Or, is our problem actually stupid spending?

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