GOP economics: binging and purging
by digby
So Mitt said this in an editorial board interview today:
In a filmed interview with the editorial board of the Las Vegas Review-Journal, a newspaper serving the hardest-hit foreclosure state in the union, Romney criticized President Barack Obama for not foreclosing on American families fast enough.
“Don’t try to stop the foreclosure process. Let it run its course and hit the bottom,” Romney said when asked what he would do to jump-start the floundering housing market.
“Allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up,” he continued. “The Obama administration has slow walked the foreclosure process … that has long existed and as a result we still have a foreclosure overhang.”
Why does that sound so familiar? Oh right, now I remember:
“Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.”
-Andrew W. Mellon to Herbert Hoover, 1930
There was a time when a presidential candidate would be booed off the stage for saying something that heartless … and daft. I’m guessing that if anyone asks him about it in the debate tonight, the audience will cheer wildly.
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