David Stockman — read of the day

I agree with much of this.  Stockman rose to notoriety as a young Hayek-quoting Congressman in the 1970s.   Much of his diagnosis continues to track analysis offered by Hayek in the 1970s and 1980s.  The structural pathology, of course, has grown worse than Hayek could have imagined at the time.

Quote of the day:

““I invest in anything that Bernanke can’t destroy, including gold, canned beans, bottled water and flashlight batteries.”

Also this:

“The nation has become fiscally ungovernable because the fiscal policy of both parties is based on what is essentially the Big Lie.”

Read the whole thing.

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