Bill McBride: Defeatists Policies #NothingCanBeDone

Bill McBride writes about the Defeatists Policies #NothingCanBeDone attitude of the US Congress.

Over the last several years, I noted on several occasions that Congress has been a disaster.  They've opposed economic policies normally supported by both parties — and by Milton Friedman and Ronald Reagan — and this has hurt the economy.  Former Fed Chairman Ben Bernanke noted in his book: “I also felt frustrated that fiscal policy makers, far from helping the economy, appeared to be actively working to hinder it.”

I agree with Bernanke.

This seems to part of a defeatists theme of the current Congress — an overwhelming pessimism about several policies —"Nothing can be done" could be their slogan (or worse when they "actively work to hinder" the economy).

Emphasis in original

This is a dangerous attitude for the leading Capitalist state to have. Capitalism is built on a "can-do" stance. If Capitalism admits defeat in the face of problems, then Capitalism has lost the right to be the dominant political and social system.