Monday, December 2, 2013

On the Extreme Economics Ignorance of Jon Favreau and Obama

By Michael Rozeff
Jon Favreau, a key speechwriter for Obama for 4 years, is defending Obamacare on the grounds of all the good things it accomplishes. I take him and Obama at their word. They believe that this legislation will accomplish all sorts of wonderful things to “bring us affordable health care.” Obama really believes it. But this belief shows how dreadfully ignorant of economics Favreau and his former boss are. Not arguing with their aims, the legislation is a portfolio of one instance after another of interventionism. In 1940, von Mises wrote a monograph explaining why interventionism doesn’t accomplish the goals that the interventionists hope to accomplish. Those analyses and lessons have been repeated and amplified countless times since then (and also before). But here we are in 2013 with massive ignorance of economics still prevalent in government and among the American people.
Obviously college economics curricula are not teaching von Mises. In one way or another, they are teaching interventionism, despite the fact that Mises demolished it, showing that it would not even get the liberals and progressives what they themselves say they wanted for the people.
The above originally appeared at


  1. If you don't accept von Mises' circular arguments, then you don't know anything about economics. Comedy gold.

    1. Every snarky post of yours displays your economic and financial ignorance, so please explain for us how Mises' arguments are circular. Or are you not up for the challenge?

      We noticed that, uncharacteristically, you had no response to the Venezuala post on Saturday. Too much work for you to try a rebuttal?

    2. Well, Jerry, you don't even understand the meaning of the word "circular". Hint: deductive reasoning isn't.

  2. On October 23, the bond vigilantes called the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48%, and the currency traders sold the World Major World Currencies, DBV, and Emerging Market Currencies, CEW, terminating the banker regime, aka the Creature Jekyll Island, and birthing the beast regime of Revelation 13:1-4, and pivoting the world from a policy of investment choice and schemes of credit … such as health care insurance choice … to policies of diktat and schemes of debt servitude … consisting of government mandates such as Obamacare.

    Obamacare is an interventionist policy of the authoritarian state, where health care corporations are given charter to operate as public private partnerships for management of people's health care, beginning first with individual states providing Medicare payment to doctors and to state operated community health care clinics. Washington state has announced a full schedule of benefits which will include dental insurance for low income individuals.