Brain Candy from Toronto

“In a democracy, fear often does the work of reason.”

—Larry Summers, Toronto, Canada, November 14, 2011, at the Munk Debate on the North American Economy. 

Obama’s Director of the National Economic Council and bad cop intellectual was arguing that gridlock in Congress will not permanently paralyze Washington or limit America’s capacity to restore itself.

As yields on the 10-year bonds soured in Greece and Italy, fun-loving Greek and Italian politicians just crossed party lines and formed national unity governments to implement harsh economic reforms.