"And if Stockman is to be combated, it ought to be on the merits of his ideas and opposing ones. What's fascinating is that those seeking to rebut Stockman's arguments literally have nothing substantive to offer. Calling Stockman gloomy or moralistic does not provide a coherent counterattack."They don't have a rational criticism. Talking heads are attacking Stockman in force. Peter Schiff describes the attacks:
"What was perhaps more surprising than the Times' uncharacteristic decision to run the piece in the first place was the vitriolic and largely ad hominem backlash against Stockman that quickly emerged from across the political spectrum. The attacks have focused primarily on his history and personality, and not on his arguments. One would be hard pressed to find any journalistic reaction that did not use the words "screed" "rant" or "unhinged." I believe these responses reveal an acute sensitivity from mainstream economists that arises from defending contorted Keynesian logic."You can tell they have no rational argument to refute Stockman. Schiff explains why talking heads are so panicked by Stockman:
"Since the crisis, he has become perhaps the most respected figure (with the possible exception of Alan Meltzer) to take the position that a system based on fiat currency is doomed. Those who most visibly argue these points, like Ron and Rand Paul, and myself, come from the libertarian movement. As a result, we can be easily dismissed as cranks. However, Stockman was once a card-carrying member of the power elite. His embrace of these principles is taken more seriously and is thus ripe for instant attack from liberal economists."A well-respected member of the power elite.
Stockman criticizes Reagan's fiscal policy for big spending.
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