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SENTRY JOURNAL » Arianna Huffington, Economics, George Will, NewsBusters, This Week » Arianna Huffington: Economic Buffoon

Arianna Huffington: Economic Buffoon

I discovered this article over at NewsBusters.  Once again the mental giant Arianna Huffington showcases her economic ineptness on ABC’s This Week.  The video below displays an exchange between George Will and her over banks and the hoarding of money.  She actually believes that the reinstatement of the Depression Era Glass-Steagall Act, will stimulate the economy. Wow!
 

Below is the excerpt of the exchange.

ARIANNA HUFFINGTON: At the bottom of the Tea Party movement of that anger is anger at the bailout. And you know, here people, Democrats, Republicans have been given proof that the government does not work because the government spent almost $800 billion and look where we are. Wall Street is doing well. Main Street is suffering.

CHRISTIANE AMANPOUR, HOST: Somebody I was talking to over the, during the week, people in business and venture capital who were saying, “Why doesn’t the government do more to force banks to lend, to do more to make it easier for people to actually go out there and show some kind of consumer activity?”

GEORGE WILL: Well maybe if the government did less, period, people would be more inclined to lend money. The banks aren’t hoarding the money because they are in a pout. They’re not hoarding the money because they’re mad at somebody. They’re hoarding money because they can’t find lenders who think they can borrow it and make money.

HUFFINGTON: No, that’s not true. The banks are getting almost zero-percent interest rate…

WILL: Yes.

HUFFINGTON: …loans from the Fed and they are spending it to make a lot of profit in derivatives tradings and all the things that got us into this trouble in the first place. And this administration and this Congress still has not passed an end to Too Big To Fail, still has not reinstated Glass-Steagall. So even, even though people may not be able to give you all these details, they know that the system has not been fixed, that financial reform is full of loopholes, and that the system is not fair, basically, for them as they’re seeing their lives falling apart.

 
WILL: We started arguing about the tax cut. The president says we can’t afford the tax cuts for the wealthy because that would add $700 billion to the deficit over ten years. Which is to say over ten years it would add less to the deficit than Obama added with the stimulus in one year.
Nice…
Mr. Will’s last statement pretty much says it all and exposes the left’s complete idiocy in economic matters.  The left can’t beat sound economic arguments.  And because they have zero to fall back on they look like fools.  Arianna Huffington is the mindset of the far left and they are utterly lost and confused when it comes to the economy.  It was really is too easy for Mr. Will in this debate.  And to think these are the people running the show.  Now doesn’t that make you all feel warm inside.
Liberty forever, freedom for all!
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Filed under: Arianna Huffington, Economics, George Will, NewsBusters, This Week

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Comments
  • Opus #6 September 13, 2010 at 12:04 AM

    They keep trying to pretend that communism works. Or, it will work this time. Er, I mean next time, if we steal a bigger chunk from our kids, and take over more companies. And jail people who won't pay for Obamacare. Yeah, that's it.

  • Reaganite Republican September 13, 2010 at 1:48 AM

    Let's make her and Sean Penn king and queen, economy will be spinning like a top lol

  • Conservative Scalawag September 13, 2010 at 3:11 AM

    Huffington is a great example of the big government nanny state can solve anything mentality. The same one that came up with Keynesian economics.

  • Randy-g September 13, 2010 at 3:33 AM

    Any wonder why that Westin guy was fired? look at his news people…..

  • Steve Dennis September 13, 2010 at 4:39 AM

    George Will really did sum it up nicely, didn't he?! He put Obama's argument in perspective.

  • LD Jackson September 13, 2010 at 4:47 AM

    You know, it's kind of scary to think there are people in America who actually believe this kind of junk. People who refuse to see that the kind of economic tactics they are espousing have never worked, nor will they.

  • Ryan September 13, 2010 at 6:36 PM

    I actually think re-enacting the Glass-Steagall act would be a good thing. But there is no reason to believe it would stimulate the economy.

    Question to me is what makes more sense? Adding a new layer of "fresh" regulation and oversite? Or looking at what worked for previous to the boom that was kicked off in 95?

  • John Carey September 13, 2010 at 7:14 PM

    Thanks for dropping by Opus. It's all about central planning and more regulations. They have regulated our free market so much that it can no longer correct itself, and the left wants more.

  • John Carey September 13, 2010 at 7:17 PM

    Thanks for the clever comment RR. I wouldn't hire her or Sean Penn to run a lemon aide stand.

  • John Carey September 13, 2010 at 7:22 PM

    And remember CS, they do know what is best for us. After all that is what progressives are all about. Thank for the comments.

  • John Carey September 13, 2010 at 7:27 PM

    ABC News has been losing market share for years Randy. I think this is a good example of why.

  • John Carey September 13, 2010 at 7:28 PM

    He did Steve. George did a great job painting a very clear picture. It was a gotcha moment.

  • John Carey September 13, 2010 at 7:36 PM

    The problem Larry is that for so long people have been bombarded with the nonsense. The public schools, colleges, and media outlets have pushed this crap for years. Now we have a class of people that believe this garbage is the gospel. They need to open their minds and read some F.A. Hayek and learn about the free markets.

  • John Carey September 13, 2010 at 7:45 PM

    Thanks for the comment Ryan. As for me I believe the market is already to over-regulated. This is why we struggle more and more each time to pull out of the natural dips in the economic cycle. If we continue to add layer after layer of regulations and mandates, our economy will not pull out of this slump any time soon.