Larry Summers Talks Typical Keynesian BS on CNBC: "Spending to rebuild will add economic strength"

Larry Summers was interviewed on CNBC: Japan's earthquake will gain economic strength thanks to the rebuilding and spending.

It's time for incompetents and ignorants like him to finally discover what Frederic Bastiat mentioned 200 years ago: the broken window fallacy.

Apart from this statement, you will see that as a true politicians, he will not commit giving any opinion, any advice, any thing concrete. He is nonetheless relatively optimistic on everything. As a true politician again.