1929: all the fault of Hoover's Big Government?
With apologies to Father Ted Crilley for the post’s title. The ever-fascinating ConservativeHome* has introduced me to the delights of the blog of Douglas Carswell MP, the obscure Conservative MP for Harwich & Clacton, and in particular his latest post: ‘Big Government made the credit crunch‘. From reading the article, it strikes me that Mr Carswell, a member of the hard-right Tombstone Cornerstone Group, could do with some of Father Crilley’s advice on recognising the effects of perspective, particularly when it comes to recognising a ‘big’ government.
As the financial crisis deepens, it’s important to remember that the events unfolding are not a failure of the markets – it’s the market response to a problem created by Big Government.
Note the capital letters. Apparently Big Government is a proper noun now. Mr Carswell continues:
For years, central banks – particularly the US Fed and the European Central Bank – have kept (more…)
