And you are here why?

Mr. Serious David Brooks has a doozy of an article up in the NY Times , which he starts off in thrilling fashion with Every generation has an incentive to borrow money from the future to spend on itself. But, until ours, no generation of Americans has done it to the same extent. Say what? WTF is "borrowing from the future "?  Seriously, WTF?  Is there a special bank somewhere where you get to go and ask your (unborn) great-grandkids for a loan?  Where time-traveling repo-men come by and take your car Back To The Future in case you stop paying? For the last time (ok, probably not the last time, but I can hope),   Borrowing Happens NOW! When you borrow money, you get it from someone else, right now . The big-honking deficit?  Thats money you - and I, and everyone else - are borrowing from China and Norway and a bunch-a other countries.  They are lending us the money, right now , (at crazy cheap rates I might add). What? You are troubled by al...

Especially when he doesn't know the first that about what he is talking about. Seriously. The Serious Mister Brooks has an article up at NY Times where he is ostensibly discussing Cyclical vs Structural issues in he current downturn.  Sure. Fine. Whatever.  He wants to be an armchair economist, then he can absolutely go knock himself out - heck, I'm one too. But then comes the zinger Unlike the cyclicalists, we structuralists do not believe that the level of government spending is the main factor in determining how fast an economy grows. If that were true, then Greece, Britain and France would have the best economies on earth. (The so-called European austerity is partly mythical.) We believe that the creativity, skill and productivity of the work force matter most, and the openness of the system they inhabit. Say what?  Huh?  " Unlike the cyclicalists, we structuralists do not believe that the level of government spending is the main factor in determin...