FLASH: FoxNews doesn’t know Bastiat

Sheperd Smith on FoxNews is now saying that Sandy has a silver lining to all those in construction who are unemployed.


Guess he never heard of our old friend Freddie!

“The broken window fallacy” — Frédéric Bastiat Ce qu’on voit et ce qu’on ne voit pas (That Which Is Seen and That Which Is Unseen) 1850 

All that money spent on repairs by individuals is lost to other purposes. The Federal Disaster Aid is just printed. 

Argh!

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