Over at Maddow-land "Everyone knows ..." whatever Maddow is selling that night must be right, it's always 'so obvious'. Check out the 10 to 1 math.
It was a big setback for THE KENYAN’S economic theory as well.
Keynesian theory?
Global warming theory?
Religion of peace theory?
Same bull Obama.
Same people.
Massive fail ... As usual.
“They had no intention of saving capitalism. They wanted to destroy it and replace it with socialism or Marxism or fascism or whatever you want to call it.”
Let none of us forget that GWB said we must destroy the free market in order to save it.
So he and his republican New Worlds Order kool-aid drinkers are on board too.
Ironically, although Keynesian economic theory has always been known to be a fraud, the failure of the “stimulus” package doesn’t really prove the point because the stimulus package was never anything more than a political slush fund for bailing out failed union pension funds and keeping Democrat municipal governments afloat. Very little of the $800 billion actually went to anythiny normally associated with “stimulus”. It was mostly used just to pay bills.
And so now the Keynesians have to either admit that they and their theories are abject failures or nod that yes, the stimulus package was a massive, brazen theft by their Democrat party on behalf of political special interests. What to do, oh, what to do...
EXCELLENT post. Thank you.
sol,
Silly boy, you are actually listening to what they are saying, and understanding them, much to their dismay.
The true intent of their commentary is aimed only at themselves so they can land talking head jobs at low rated subsidiaries of soros.inc.
Logic, mathematical reality, and reason do not apply in that world.
Keynesian economics should have died in the late 1970s with stagflation...something Keynesian theory said could not happen. J M Keynes is like a zombie who keeps coming back from the dead looking for economies to devour.
They’d rather put their faith in unicorns and pentagrams than to admit the spending must STOP.
It’s time to root out the crooked doctors, hospitals, lobbyists, welfare cheats, disability frauds, EPA over-regulators, ACORN lookalikes, and moronic HHS grants for example.
It’s time to start tax reform.
and it’s time to jettison this administration and the clueless leader.
Media talking heads should be outsourced - that alone would go a long way toward educating the American public about the long hard road we have to walk in order to undo this socialist experiment.
Keynes thought that a central government that spent 5% of the GNP, and had an all but invisible regulatory footprint, could spur the economy by temporarily spending 10% of the GNP.
That does not mean that he would have thought a central government spending 22% of the GNP, and regulating everything that moves, would spur the economy by raising spending to 27% of GNP.
Setback? More like an ineluctable repudiation of Keynesian demand-side economics.
GREAT!
We took Trillions of dollars and added that to our children’s credit card for a THEORY?!!!
Are these people for F’ng REAL?!!!
So when do get to apply my theories at the taxpayers expense?
F the Liberals in the country ALL to HELL!
I have to pay, you have to pay, and our children and their children have to pay ... for their Theories!!
They wanted to replace it with communism, statist communism.
How do they explain the Harding/Coolidge economy?
I watched that.. (I like watching msnbc because of the laughs) .. they went on to say it was too small and tea partiers were dumb because it was econ 101...
The Keynesian economic theory was and is nothing more than disguised socialism and it has never worked, never. =.=
During the good times, how many of these alleged Keynesians were demanding that funds be saved for the next rainy day?
Exactly.
So as full of nonsense as much of Keynesianism is, the people today now promoting policy under that name are not Keynesians. They are pathological spending addicts. That's all it is. There is no grand plan or policy that girds their suggestions - there is nothing more to it than an irrepressible urge to take your money for themselves and their friends. That's ALL they know how to do, that's all they have ever done.
"They" are simple oligarchists, some under the banner of Communism, others under the banner of klepto-fascism, others cannot decide between them but prefer either to freedom and liberty.
“The cost of debt compared to the cost of unemployment is incredibly low. A trillion dollar deficit costs us $25B per year to pay the interest on that. If we have an extra 10M people unemployed that’s $250M lost forever each year so it’s a 10 to 1 trade-off .”
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Apparently I am “unimaginably stupid” because I cannot imagine what Madcow is trying to say here. I am sure that it must be amazingly brilliant if someone would just explain it to me.