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Gregman2's  Instablog

I am a Business Development/Marketing professional in Sunnyvale, California. My hobby is News and Economics, and when I'm not coaching or fishing or hanging out with my wife and kids I like to share my thoughts, which is what my blog is all about. In a nutshell, my basic philosophy is to strive... More
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  • Four Legs Good, Two Legs Bad? (from Steve Keen)

    Professor Steve Keen, in Australia, writes:

     "The debate between Democrats and Republicans over the size of the government deficit reminds me of the slogan that The Sheep from George Orwell’s “Animal Farm” chanted in support of The Pigs: “Four legs good, two legs bad.” Anything The Pigs did was OK, because they were Animals, and therefore good. Because they walked on two legs, anything humans did was therefore bad.

    Ditto the debate over the debt levels being accumulated by the Obama administration in response to the Global Financial Crisis: it seems that Government debt is “two legged”, while private debt incurred is “four legged”.
    More »
    Tags: private debt, public policy, Australia
    Jul 20 10:47 am | Link | Comment!
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