Posted on 07/07/2012 6:16:34 AM PDT by Economus
There is a man who the left wing thinks is some kind of superhero. John Maynard Keynes.
This idiot, this "superhero", said that we need to give money to the poor when the economy is doing poorly. This Keynes agrees with Paul Krugman.
We need to find a way to disagree with this old historical figure. Because Keynes was always against the banks, he was always against the authority. Keynes knew what he wanted and he would not be afraid to tell it.
We need to stand up to the banks and tell them that their orthodox methods are a thing of the past. John Maynard Keynes was a rebel of the best kind. He stood up to them and he knew what to say.
He did his research and he knew his facts. He said we need to get off the gold standard because we need to help the poor. It was as simple as that.
The gold standard of the past is gone.
The "gold standard" that they respected in their day was caused by their respect for the "ultimate bank of the world: the Bank of England" and they were wrong
We needed to get off the gold standard because every part of the relative value of money was out of whack. France had way too much gold. England had way too little gold in contrast to it's foolish loans abroad. America had way too much gold in regards to it's huge loans to foolish europeans.
All gold standard transactions were foolish and wrong.
I have read "Lords of Finance" twice now. Pulitzer Prize winner. I also have a degree in economics from Drexel University.
I have to vote against austerity.
In the long run, he died.
Keynes favored spending like there was no tomorrow because in the end we’re all going to die anyway. Let your children and grandchildren pick up the tab.
Yes we are 16 trillion dollars in debt and things are bad, but just think how great things would be if we were 18 trillion in the hole.
Keynes knew 2 things which Bernanke and the Obama regime do not:
1. The Keynes stimulus would only work if the money multiplier was around 2 or more. It has been below 1.0 during this current depression, and falling.
2. Keynes intended the stimulus money go to boost the productive private sector of the economy. Obama's porkulus was mostly used to keep non-productive (and often economically obstructive) public employees in their jobs.
Keynes (pronounced “canes”) also advocated reduced government spending (saving up for a rainy day) during good times, to dampen an overheated economy.
Milton Friedman had no argument with basic Keynesianism in principle, his disagreement was practical: Politicians will always spend more, good times or bad. Friedman advocated a balanced budget amendment, waivable in time of actual, declared war.
I have to vote against austerity.
You can't push against a piece of string and expect it to move forward.
5.56mm
Keynes was a Fabian Socialist, a homosexual pedophile freak, and a psychopath. Other than that...
Sounds like a formula for constant war
“We have always been at war with Eurasia...”
You have a point. The last time the U.S. declared war was on June 5, 1942, against Bulgaria, Hungry and Romania. It has always been assumed that Congress would not declare war lightly, but with the Democrats and the current congress, one never knows.
There is a reason, a very good reason, why Human Events lists Keynes “General Theory of Employment, Interest and Money” as the 10th worst, most destructive book ever written.
Here’s their description:
10. General Theory of Employment, Interest and Money by John Maynard Keynes
Lord Keynes was an interesting contradiction. A member of the British elite (he was educated at Eton and Cambridge), he did more to popularize ever-expanding government than any other economist of his era.
Keynes became immensely wealthy through his investments, yet argued in favor of deficit spending and government borrowing. ‘
Long before Richard Nixon famously said, “We are all Keynesians now,” Franklin Roosevelt used Keynes’ arguments to justify the massive growth of government. As a result, today we have a $3.5 trillion Federal budget and a $13.8 trillion national debt.
Thanks, Lord Keynes.
The biggest spending cut we have ever seen was after WW2.
Keynesians predicted that the US economy would collapse after the spending stopped. But they were wrong.
Federal spending was slashed from $118.2 Billion in 1945 to $57.7 Billion in 1947. The federal budget was balanced in 1947, 1948, 1949, 1951 and 1952.
GDP grew at a rapid pace from 1947 onward. There was no collapse.
Keynes was a sodomite paedophile with a ballerina wife as a “beard”. For obvious reasons, sodomites have short time horizons and want to destroy any society that doesn’t “celebrate” their perversions. Keynes was no exception.
Keynes’ general theory is incoherent, and the more coherent version developed by Paul Samuelson and others is plainly wrong and would not have swept academia but for the fact that it gave economists access to money, power, and prestige in ways they they had never dreamed of.
You may not be interested in austerity, but austerity is interested in you.
Great point.
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