Gov. Perry has now disavowed prudent use of monetary policy to avoid deflation and promote economic recovery and disavowed prudent use of fiscal policy to avoid depressions and promote economic growth. I guess he believes that if you drill for energy everywhere the U.S. will turn into Saudi Arabia and Texas and we will have full employment. I guess he didn't study economic history and understand that the failure to use fiscal and monetary policy prudently puts us back in the late 1800's when we routinely had boom/bust cycles that looked like depressions and the 1920's. Of course, then we were an agricultural economy and most people could at least feed themselves without any money.
I think Gov. Perry is incoherent and maybe Romney still has a chance. Perry is as nutty as Sarah Palin, Michele Bachman and Rand Paul.
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