“There is no reasoning with the public right now,” said Thomas Mann, a congressional scholar at the Washington-based Brookings Institution. “The public would flunk Economics 101.”I would point out that it is none other than Ben Bernanke who wrote the textbook for Economics 101. These Keynesians have been firmly in control of monetary and fiscal policies for the past few decades. It is their Keynesian policies that have landed us in the mess we are in. What astonishes me is that after being so wrong for so long not only are the Keynesians not humble, but they are quite certain of themselves.
The Keynesians have gone on a name calling spree. I have seen many articles recently where Keynesians call those who want to balance the budget names. I found the following quote from a Bloomberg article rather amusing.