Any dictionary worth its salt will tell you that "economics" is the social science that analyzes the production, distribution, and consumption of goods and services. And for generations, people have generally agreed that economies had to be based on good economics to survive, flourish and prosper. Sometime in the 1980's that all changed.
In 2002 Dick Cheney was quoted to say that "Reagan proved that deficits don't matter". 14 Trillion dollars and a country tipping on the verge of another Great Depression later and Americans are just starting to wake up to the fact that Reaganomics (and the likes of Dick Cheney) ushered in an era of economic stupidity and insanity rivals that any the world has ever seen.
Many say these seeds of stupidity were planted when the Federal reserve was created in 1913 with a group of private interests taking control of our nation's money system and those same seeds were nourished by Nixon in his closing of the "gold window" in 1971, but a close look at the spending binge that began in the '80's points clearly to the acceleration of that policy that has us where we are today.
Wall Street and our politicians have morphed a simple and vibrant economy based on the principles of hard work, savings and cooperation into an economy that functions on theft, endless credit, monopoly money and greed.
Kabuki Economics could well be described as the offspring of Voodoo Economics. Where Voodoo Economics was an economy based on an endless supply of credit for the "haves" who would generously sprinkle small amounts of said credit to the "have nots", Kabuki Economics is an economy based on the same principle, only the "haves" have now exceeded their credit limit and can do little more than pretend the system is working fine (until it inevitably stumbles over a second story railing landing face first on a table on the dance floor below).
