The shocking evolution of disaster capitalism: Warning: McCainonomics channels inner Friedman/Reagan

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from MarketWatch:



PAUL B. FARRELL
The shocking evolution of disaster capitalism
Warning: McCainonomics channels inner Friedman/Reagan/Bush/Gramm
By Paul B. Farrell, MarketWatch


ARROYO GRANDE, Calif. (MarketWatch) -- John McCain's a street fighter and may well end up the 44th president of the United States. What's his secret strategy? What's the new McCainonomics going to look like if he takes office?

Many of his detractors, both conservative and liberal, dismiss him, suggesting that McCain's economic policies reflect bizarre campaign tactics, that he's just a "grumpy old man" forced to use endless spur-of-the-moment desperation tactics and Hail Mary passes because his ratings are sagging.

What if they're wrong? What if there's a brilliant method in his (apparent) madness? What if his earlier admission that he "doesn't understand economics" and all his digs that his opponent "doesn't get it" aren't what everyone thinks they are? Lately, I'm beginning to feel that his game of playing dumb is actually a clever part of an overall strategy and that McCain really is a brilliant economist as well as political strategist.

So today let's be a surrogate economic advocate for McCainonomics. Keep an open mind because it would be a serious mistake to dismiss the power of McCain's strategy.

To understand McCainonomics begin by assuming that McCain's bizarre behavior is actually not a wild series of unrelated, impulsive, seat-of-the-pants decisions, but part of a long, proud political history that may ultimately shock everyone at the last moment and propel him into the presidency. How? The answer lies deep in the DNA of McCainonomics and earlier conservative economic theory.

Let's examine the historical "blood lines" and wisdom of McCainonomics. It's actually quite simple once you realize that McCain is "channeling" the inner vision of four very-related economic giants of modern world history that preceded him in this lineage:

* Nobel economist Milton Friedman, author "Freedom and Democracy"

* America's great conservative President Ronald Reagan

* President George W. Bush, disciple of Friedman and Reaganomics

* Former Texas Sen. Phil Gramm, master architect of McCainonomics .......(more)

The complete piece is at: http://www.marketwatch.com/news/story/mccainonomics-shocking-evolution-disaster-capitalism/story.aspx?guid=%7B72CC959C%2D0D20%2D48D7%2DAED3%2D0FAFACF023B3%7D&dist=msr_2