Sunday, July 21, 2019

Rest In Peace Voodoo Economics

After 40 years of Supply Side Voodoo Economic failure, the U.S. conservative movement is finally figuring out it doesn't work...

Some people don't learn too good. An entire lifetime of fraudulent belief, unceremoniously flushed down the toilet of history.





The right wing movement held their first ever "Nationalist" conservative conference this past week. With many high profile Trump acolytes in attendance. The goal of the conference was to cleave the Party from its ignominious past and chart a new path forward under nationalism. The Republican "Big Tent" just became very small indeed. I will say this much, the U.S. conservative movement is nothing if not ideologically "flexible".



“We declare independence from neoconservatism. We declare independence from neoliberalism, from libertarianism"

Leaving aside the thinly veiled racism underlying this new "approach" which  leaves at least two thirds of the U.S. outside the new tent. Where it gets interesting is the venn overlap on the economic side between the far right and the far left. Which are both converging towards the center from opposite sides.

"The once-heretical notion that the free market may not be conservatism’s friend was discussed"

“Market economies are not going to give us what they want on their own”

The debate unfolded in a dense blizzard of references to economic indicators and quotes from the Federalist papers"

In a vote, the protectionist side won handily, 99 in favor and 51 against."


It gets better. The star of the show was Tucker Carlson who launched a tirade against corporatism entitled "Big Business Hates Your Family". Basically what I've been saying for ten years non-stop. Last month Carlson went on a tirade against the Koch Brothers.

This is a quote from the conference:

“The main threat to your ability to live your life as you choose, does not come from the government, it comes from the private sector,” he declared. “I can’t believe I’m saying that!”

I can't believe it either. It was a very timely rejoinder in a week when we find out that Big Pharma accidentally killed off a large chunk of the country. I've said all along that "free market" healthcare is going to be the leading cause of death in the U.S. in tandem with junk food.

"The market responded as one would expect to increased 'demand'"



"America’s largest drug companies saturated the country with 76 billion oxycodone and hydrocodone pain pills from 2006 through 2012 as the nation’s deadliest drug epidemic spun out of control"

which has resulted in nearly 100,000 deaths from 2006 through 2012"

Federal Data Shows Opioid Shipments Ballooned As Crisis Grew"

Getting back to the conference, also in attendance was Peter Thiel, Trump's Tech whisperer. This past week, he had this to say about the Democratic gong show. Again, I wholeheartedly agree that Elizabeth Warren is by far the most impressive candidate.



TUCKER CARLSON, FOX NEWS: I assume you’re watching the Democratic primaries unfold; who’s the most impressive candidate in that race, do you think?

PETER THIEL: Well, I’m most scared by Elizabeth Warren.  You know, I think she’s the one who’s actually talking about the economy, which is the only thing that I think -- the thing that I think matters by far the most.

CARLSON:  I think that’s right. 

This is what Tucker Carlson had to say at the conference about Warren:

An audience member asked if he saw Sen. Elizabeth A. Warren, whose economic plan Mr. Carlson has praised, as a “potential ally for national conservatism.” Carlson called her “a human tragedy” and a “joke,” but said her 2003 book, “The Two-Income Trap,” was “one of the best books I’ve ever read on economic policy.”

“The single biggest change to our society, and it got almost no press, was the moment where it became impossible for the average person to support a family on one income”

Good riddance Ponzinomics.