It is the followers of the Keynesian Kenyan who are acting with malice.
Posted on 11/25/2010 12:13:33 PM PST by neverdem
They’re rather like America’s welfare class: Just waiting for that manna to drop from the sky.
It is the followers of the Keynesian Kenyan who are acting with malice.
The future of the economy is guessed here, and I fear they may be right.
Excellent piece.
I saw this movie in junior high and high school. I am not interested in seeing it again. It was a real horror show.
Excellent article. On the money throughout. My only difference with the author is that I’m afraid things really ARE worse than they were during the LBJ stagflation/depression.
Because although Reagan lowered taxes, he was unable to cut any of the spending, lacking support for that from congress. The Great Society programs are still with us, and have been added to by almost every president since, from both parties.
Very nice piece, thanks for posting
That's about as good a description of Keynesianism, as I've seen in the mass media, in a long time. The author is right, nobody ever pays any attention to the first phrase. Keynes, himself was opposed to perpetual deficits. Keynes also wouldn't prescribe the same medicine for every perceived economic malady. Keynes wouldn't be considered a “Keynesian” today.
Keynesian economics was meant for imperial and totalitarian Europe where it would probably work fairly well.
His solution in a nutshell. It is right on the mark if, in the “loosen credit” part he means for the government to get the hell out of the economy and allow banks to lend to business owners and home owners without the obtrusive, destructive regulations.
Keynesian economic theory never seems to go away despite it being shown to be totally wrong in the 1970s when pouring money into a stagflation economy caused an inflationary spiral and the double digit interest rates that were the hallmark of the Carter administration. Keynes keeps coming back like a zombie in some B horror flick.
Inflation is here, now. I wish I could remember the name of it, but there is a website out there devoted to documenting how various products are shrinking in size, so they can be sold for the same price, instead of selling the same quantity for a higher price. Toilet paper rolls (measured end to end of the cardboard tube) are a quarter to a half inch shorter now, and fewer sheets are put onto each roll. Half gallons of ice cream are no longer half gallons.
Eventually (probably in the near future), it's no longer going to be possible to hide inflation by shrinking product size.
If you and I have noticed the shrinkage, I'm sure others have too. The rub is that the Consumer Price Index doesn't reflect changes in food prices. Ditto energy. They say they're too variable. They think we're stupid.
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And to you and yours a Happy Thanksgiving!
The family gathering was even better than usual. Some are still having fun with food, drinks, games and recollections.
I give thanks for all of the wonderful individuals on FR...and especially the posters of articles which get the discussions/commentary started.
Thanks, neverdem.
Thanks for posting.
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