11/19/2019

Pay attention to what people are not talking about

"The issues that we should be focusing on are the ones that no one is talking about, not the issues with which the media and politicians are obsessed.


I see lots of recent articles about the need for fiscal stimulus. Do they not know that we are already doing an almost unprecedented fiscal stimulus?

Perhaps people are not talking about this explosion in federal spending because it would be inconvenient to do so. If you are a Republican, then you don’t want to highlight your hypocrisy on the issue. If you are a Democrat, then you want to make the GOP seem like meanies who are unwilling to spend money to help people. If you are a mainstream economist, then you want people to believe that more spending will boost economic growth. (Even though the Fed offsets fiscal stimulus.) If you are in the media, then you follow the lead of Republicans, Democrats and economists. If they aren’t talking about the issue, then it’s not an “issue”."