Posted on 07/30/2010 12:24:16 PM PDT by rightwingintelligentsia
That pretty well sums it up for Keynes theory concerning our current predicament. The Biblical seven years of plenty and seven years of want is an example of how Keynes theory is at least possible. However, we have not only used up all of the excess from the years of plenty, but we borrowed against it using the current years of want as collateral. To sum it up in the vernacular, "We're screwed."
That pretty well sums it up for Keynes theory concerning our current predicament. The Biblical seven years of plenty and seven years of want is an example of how Keynes theory is at least possible. However, we have not only used up all of the excess from the years of plenty, but we borrowed against it using the current years of want as collateral. To sum it up in the vernacular, "We're screwed."
Screwed, blued, and tattooed.
No that’s what I’m objecting to. They can’t move money through time. The money they spend in the here and now, they have to borrow in the here and now. Someone was using that money before the government borrowed it. The resources they divert are diverted from alternate uses in the present.
They do not have a time machine with which to bring resources from the future to the present.
In the sense that actions do not generally create instantaneous reactions in economics, shifts in the official figures (movements in time occur). In the sense that nothing occurs in a vacuum and the reaction will occur at some point, you are most correct.
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