Mainstream progressives [sic] are blaming responsible individuals. Forget about the fascist protection of corporate risk, corporate welfare, cronyist subsidies for non-viable industries (who wouldn’t need subsidizing if they were viable and useful), our phony economy manipulated by banksters and the fact that Wall St. has hijacked the White House.

by Bill Anderson

17 Mar 09 | The LRC Blog

The latest “cover” story on Newsweek gives us the Krugmanized line: “Stop Saving Now!” Yes, it is those savers, those horrible, poisonous savers who are doing us in:

As consumers hibernate and investors hoard cash, the economy is withering. This new age of thrift is understandable. But for a recovery to take hold, Americans will need to start taking risks again.

Of course, since the administration is demonizing risk and demanding regulation that blocks risk-taking, Daniel Gross, the author of this abomination is barking up the wrong tree. Yes, according to Newsweek, it is those evil savers who are destroying the economy, and it is up to the government to ride to the rescue. Yes, that same government that encouraged recklessness with its easy money policies. Yeah, always blame private individuals. The State is our savior, Newsweek tells us.

  1. wonker says:

    Interesting blog, I’ll try and spread the word.

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