John ‘Grumpy Economist’ Cochrane – ex Chicago, now at Hoover (see the link in the sidebar) – has had a series of good posts on the policies of the new administration the US, which are seeing the rapid roll-out of a sort of kindergarten Keynesian economics that would shame even Ross Gittens. In his latest post he concludes:
[L]ike Mickey Mouse in the Sorcerer’s Apprentice, the army of brooms is filling the castle with debt and disincentives, out of the sorcerer’s control, and then throwing him out too.
My question for Cats is: with a centre-right government here, are we seeing anything different? And further, has the seeming rot in centre-left thinking in the US that now dismisses traditional concerns about excessive fiscal expansion also overtaken their local counterparts?