[reaganaut1]

Keynesian economics is the real "voodoo economics".

The Times is favorably reviewing a book on the danger of inflation and meddling in the economy, but it favors massive new spending ("stimulus") and environmental regulations that will cause more inflation in the future. Another favorable Times review of this book was discussed at http://www.freerepublic.com/focus/f-news/2132882/posts .

[Travis McGee]

Keynes was asked what would happen in the long run with his theories.

He said, "In the long run, we're all dead." In other words, "The hell with your grandkids, live for today."

Well that childless old queen is long dead, but his "long run" has arrived, and we must pay the bill at last.

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

-~~Ludwig Von Mises

"If recession should threaten serious consequences for business (as is not indicated at present) there is little doubt that the Federal Reserve System would take steps to ease the money market, and so check the movement."

~~Harvard Economic Society, October 19, 1929

"Business will turn for the better this month or next, recovering vigorously in the third quarter and end the year substantially above normal."

~~Harvard Economic Society, May 17, 1930

“Several brokerage houses tumbled; blue-sky investment companies formed during the happy bull market days went to smash, disclosing miserable tales of rascality; over a thousand banks caved in during 1930, as a result of marking down both of real estate and of securities; and in December occurred the largest bank failure in American financial history, the fall of the ill-named Bank of the United States in New York.”

~~"Only Yesterday: An Informal History of the 1920’s" by Fredrick Lewis Allen

[Jacquerie]

In other words, neither of you could be bothered to scan the Cliffnotes to his "General Theory of Employment, Interest and Money."

[ovrtaxt]

John F. Kennedy himself had sound economic instincts. But he was seduced by his chief economic adviser, a University of Minnesota professor named Walter Heller,

Kennedy signed Executive Order 11110 (which granted the Treasury authority to directly issue money in the form of silver certificates) five months before his assassination. He also gave this speech seven months before his death.