David Frum, apparently unaware that the deregulated capitalism he has cheer led for his entire career has destroyed a considerable amount of the nation’s wealth, continues to argue that ‘financial creativity’ is the defining aspect of America’s economic prosperity. So blinded by his faith in the use of debt, private enterprise and deregulated markets that on Fareed Zakaria’s show, he even attributes the creation of the internet to free market capitalism (it wasn’t) and suggests people’s increased ability to go further into debt by remortgaging is a fantastic thing (if you want to destroy the economy that is):
Frum is a spineless dweeb who has found himself on the wrong side of every single major issue over the past decade. He supported both wars, George Bush’s tax cuts, advised Rudolph Giuliani for President in 2008, opposed the stimulus, opposes health care reform and is now arguing that the financial system ‘is fine’. Some might conclude that Frum really is a clever chap and has simply made some bad choices.
However, it’s most likely that he just isn’t that bright.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.