(Steven Hayward) James Grant, the founder of the indispensible Grant's Interest Rate Observer and one of my favorite financial writers, likes to describe macroeconomics as "politics disguised with differential calculus." Boom! Because of course macroeconomics is the cornerstone of Keynesianism, the convenient doctrine that provides politicians with the excuse to spend as much money as they can. Supposedly it works on a "multiplier" effect, but the only thing it seems to multiply
Source: Power LinePower Line