When The Old Time Fiscal Religion Vanished—Then Came Jamie Dimon’s Dopey Drivel

In January 1971, Richard Nixon famously told TV journalist Howard K. Smith that “we are all Keynesians now.”

But he actually said it off-stage as a throwaway quip, not in a public context where it could be construed as official policy. That’s not surprising given that the Republican Party and the business community had not yet even remotely abandoned the old time fiscal religion.