The Lamentations of Lowry – Chapter 9: Avoiding Depression

Not the emotional kind. Take a prozac for that. I’m talking about the economic kind.

Above all I am an economic conservative. As such I fear the havoc Obama could inflict as Chief Executive. As we confront the current economic difficulties, the unusually named Amity Shlaes offers advice on how to avoid a repeat of the malaise of the 1930’s. A roundup of the 5 bad moves that can make downturns worse:

1. Giving in to protectionism
2. Blaming the messenger
3. Increasing taxes in a downturn
4. Assuming bigger government will bring back growth
5. Ignoring the cost of inconsistency

Barack Obama has a perfect record on these matters, and it could be a perfect disaster for the country. I would love for an Obama supporter to explain that away or attempt to justify it. If you can’t defend him on these points than what reason could there possibly be to vote for the man? The economy is the engine that moves the country along. Every other issue will be impacted by our economic strength or lack thereof.

Shlaes closes with the following:

The proximate danger today is a repeat of the 1970s, not the 1930s. But if lawmakers don’t remember the old missteps, they might find that their new recovery legislation imperils our recovery.

That is probably correct, but we should demand better.

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