This evening as I engaged in some channel surfing, I noticed glen beck had his chalk board out and even more astounding what he was saying was actually true. So I had to listen, he was explaining a recession and the remedy for a recession which is stimulus (government spending). Well the truth did not last long before beck resorted to magic. beck explained that our current recession is caused by a lack of demand. And the solution for that lack of demand is government created demand (spending). It was all reasonable until he got to, "but we have debt". And because we have debt that old magic stepped in with a vengance and magically doubled the size of our recession. He went on to say that we should just let the economy crumble and collapse. And yes, lots of people would loose their jobs. But we then, without reason other than we exceptional people. we would magically recover instantaneously and we would magically be better than we were before, stronger than we were before. As an example, he cited the recession of 1920-1921 which lasted about 18 months. It was a steep but relatively brief recession. This is what beck did not say. All recessions are not equal. The recession of 1920-1921 was caused not by a crisis of confidence but because of supply shocks. It was an economic adjustment caused by the end of WWI. After WWI there was and adjustment period. Unemployment reached 8 percent because of all the young men being discharged from the military and winding up unemployed. The Great Depression and the Depression/recession we are experiencing was not caused by a supply shock/adjustment but a financial collapse and resulting lack of confidence. When no one else has confidence in the organsof the economy, the government needs to step in and fill in demand. until calm and confidence can be reestablished in markets. Well listening to beck was good for about a minute this evening. I was impressed for all of a minute. But he just could not help himself. He had to go back to that magical thinking that characterizes so much of the thinking on the right. Things just don't happen in the economy because of wishful thinking. Things happen in the economy for reasons. Just because we have debt does not automatically double the depth of a recession. And just because the economy collapses does not mean it will magically recover. There must be factors and reasons for an economic recovery. The economy does not recover just because the people in the economy are good people.