Courtesy of Mish.
Brookings Institute Senior Fellow Ron Haskins discusses the Looming Fiscal Cliff in the following video.
About 30 seconds in, Haskins’ stated “the fiscal cliff is kind of the opposite of Keynesian economics”. I was thinking here we go again, another person thinks we cannot do anything about this “now”.
Having played it entirely, it is clear Haskins is not supportive of the Keynesian view, rather, he is disgusted as to why we are where we are, blaming Congress, the president, an partisan politics.
He failed to address the role of the Fed or fractional reserve lending, but he is against can-kicking exercises.
Mike “Mish” Shedlock