We are frankly flabbergasted when we see someone, anyone, on national television who can speak knowingly about our current American economic mess.
We remember not too awfully long ago watching Bill O’Reilly of Fox News ask on camera “Who is this guy Keynes that everybody is talking about”
O’Really? O’Reilly spent years bloviating (his word, not ours) about economic policies and programs, candidates and officials, and yet had no clue about the reigning economic policy of the US?
Well, John Maynard Keynes is the man most identified with the spend-our-way-to-prosperity economics that has governed Washington, under Republicans and Democrats alike, for decades. He is the godfather of mainline, bipartisan fiscal and monetary policy consensus, the one that has the country deeply in debt with high inflation, and a currency that is losing its global preeminence.
That’s why we are in so much trouble. Because it turns out that a nation can’t actually spend its way to prosperity any more than you can as a householder.
But now we admit ourselves impressed with Tucker Carlson’s opening monolog on his Fox News show on Wednesday evening, April 4.
Our readers will find it all familiar since we have ceaselessly tried to point out the consequences of the way sanctions have become a substitute for foreign policy in Washington. And pointing out that we are cutting our own throats and undermining the dollar’s role as a dependable global currency. We have called this the most important monetary megatrend of our times and a powerful reason to own gold.
But let us step aside and let Tucker Carlson explain what is going on with the dollar and the US economy: