Michael Kinsley once wrote that in politics a gaffe is when a politician inadvertently tells the truth. British Prime Minister Gordon Brown referred to the world depression (yes, he said the D-word) in a question session and has been trying to disavow it ever since. A spokesman claimed the the PM did not deliberately use the word and does not believe it. In other words, the PM does not know what his mouths says and disbelieves whatever it does say.
Yes, the world has fallen into depression and is falling deeper everyday. Why can't somebody finally say so? And once that truth is said, why can't somebody propose the necessary remedy: radically shrink the size, power, and interventions of government in order to free up the capital that the private economy needs to recover? Quit bailing out failures; write-off bad debts; let inflated prices deflate; deeply cut government spending; stop government borrowing; stand aside and let the private economy recover.
There's one thing good about this depression: the mealy-mouthed Gordon Browns of the world are soon going to find themselves out of power, out of office, in prison, and some will be swinging from nearby trees.
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