US will experience collapse from First to Third World

laissez-faire economics... Keynesian fiscal policies...

Social Darwinism anyone?

Institute of Economic Affairs (IEA)

Quote:

The core belief of free-marketeers is that people should be free to do what they want in life as long as they don't harm anyone else. They say that on the whole, society's problems and challenges are best dealt with by people and companies interacting with each other freely without interference from politicians and the State. This means that government action, whether through taxes, regulation or laws, should be kept to a minimum.

http://en.wikipedia.org/wiki/Institute_of_Economic_Affairs

Quote:

There are "troubling similarities" between the US President's actions since taking office and those which in the 1930s sent the US and much of the world spiralling into the worst economic collapse in recorded history

Quote:

"It is also not impossible that the US will experience the kind of economic collapse from first to Third World status experienced by Argentina under the national-socialist governance of Juan Peron."

http://www.telegraph.co.uk/finance/economics/6147211/Barack-Obama-accused-of-making-Depression-mistakes.html