Disingenuous.
Really, how does something like this get published? He doubts the multiplier and uses as proof the fact that consumption declined during WWII. I’ll admit to not having first hand knowledge, but I’m fairly certain there were programs in place to limit personal consumption during the war. Rationing, etc, and we weren’t borrowing from abroad, we were borrowing from us. Anyone who’s watched It’s a Wonderful Life knows more about what went on during the war than this guy.
Posted in Economy by Matt at January 27th, 2009.