Stein: Fear-Mongers Keep Us In Recession

Ben SteinThese fearmongers are making the recession worse

**(CBS) ** Are you up to here with all the grim economic forecasts? Contributor Ben Stein happens to be an economist, among other things, and has the hat to prove it …

Okay. Let me put on my weather-beaten economist’s hat again and try to explain something important.

As we all know, we are in a recession that is bad and getting worse. So, basic question: How do we get out of it?

Well, look at it this way. The economy grows because of two factors: M, which is the quantity of money in the economy, which is controlled mostly by the Federal Reserve; and V, the velocity of money, or the rate at which it changes hands - or, as one might say, the speed with which it is borrowed, invested and spent.

Unlike other actors, Ben Stein has he credentials to back up what he is saying.

Ya know I like this guy more every time I read his stuff. He is right on! History proves it!

Thank you for posting this gilliam! I sent it on to my family and friends!

What we need, as Bill Clinton aptly pointed out recently, is more cheerleading and less fear-mongering. We elected Mr. Obama to be National Spirit Leader, not National Scary Storyteller.

The economy did great under Bill Clinton. It is not a Democrat thing for sure.

Maybe there is an ulterior reasoning behind the fear-mongering though. It gives the leftist of the Democratic Party reason to set up some very major-league socialist programs, all in the name of stimulus.

I agree the recession is not a Democrat vs Republican issue. It is part of the economic cycle. However, the news currently is unlike anything I have ever heard in my life. Even my mother, who grew up in the Depression, did not recall hearing the fear-mongering that we do today in the mainstream news media and from the President.

What could be the the real motive in frightening people?

I don’t know the answer to that, but I have no doubt that the motive is evil.

I agree with Mr. Stein. And if I could gather up all of the chicken-little, henny-penny, sky-is-falling doom-sayers and fear-mongerers, and send them on an extended vacation to Mars, I would do it in a minute.

Well, duh! Terrorism, after all, is the use of fear to force people to do things they wouldn’t otherwise do! Just you wait, though, the real whoppers are coming, and boy, he’ll get these pansy suburban dwellers (no offense to the non-pansy suburbanites) to do anything. Anything.

Soon, folks will be trading in the freedoms and God given rites by the bushels for a dash of security and a dollop of feel-goodness.

It makes sense to me, as a previous poster pointed out, that it is designed to get people to accept spending excesses and social engineering that they would not otherwise find acceptable.

But I am one of those who believe that this recession, like all recessions, will eventually correct itself. People will not spend, there will be pent-up demand, and the economy will ultimately lurch forward again when people realize the world did not end after all. I suspect the left also knows this. By selling gloom and doom and doing what they can to actually make it worse in the short term, they will make themselves look like saviors when the inevitable turnaround happens. A lot of people will believe that self-presentation.

Can’t be true. President Obama said he was putting an end to the politics of fear.

– Mark L. Chance.

If Mr. Obama and Mr. Geithner, his Treasury Secretary, and Mr. Volcker, his well-respected advisor, and some real superstars like Warren Buffett and Jack Welch all came out and said, “The recession will end within 12 months. We are sure of it,” the recession WOULD end within 12 months.

This was my favorite part.:slight_smile:

Yet, IMHO, as long as we are looking at the rising prices of energy (cap & trade), transportation (going green), bigger government (all those new jobs not in the private sector), card check (unions taking over in the private sector so the companies can get contracts), education costs (both local & federal taxes to go up), national health care (we all know how costly this will be if the government takes it over just look at Medicare & Medicaid) and other issues and then we will see why people will hold on to what they have left with the market down turn.

What many of us have left after our retirement money went far south, we now will need to dip into empty pockets just to heat and eat.

:eek: Gasp! A President lying? Unprecedented!

Seriously though, the use of fear tactics is just the way the Administration handles the less scrupulous portions of the population. For those of us with a moral compass, it resorts to bullying. Look at FOCA.


Funny thing, a few weeks ago our dear leader appears on TV and says we’re all doomed. Mr. President, I knew that back in November!

That’s how the feudal system got started.

I am not certain that is a correct conclusion. I think it had more to do with limitations on travel and communication at the time. On the whole, the feudal system was not really all that bad.

Quite true. The major disadvantages weren’t specifically feudal, but related to a lack of things like antibiotics and clean drinking water. Medieval serfs enjoyed quite a lot of time off thanks to frequent holy days (something on the order of 125+ a year, counting Sundays).

Sweet.

:slight_smile:

– Mark L. Chance.

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