I have been scouring my files - but could not find :-( - a file about some Russian in the 90's who predicted the US would do just that by [now, I think].
Generally I have been a supporter of Keynesian economics - on a very moderate scale. We could never have produced so much wealth since WWII if we had stayed on the gold standard. I think where we went wrong with Keynes is, simply, greed. Trillions of $$$ on margins [of as little as a few %] and away too much debt on all sides has sunk Keynes - for good I hope. :-|
” - - - I think where we went wrong with Keynes is, simply, greed.”
WRONG!!!!!!!!!!!!!!!!!!!!!!!!!!
Where Keynes went wrong had nothing to do with “greed” but had everything to do with his stupid, (stupid is the inability to learn), attempt to replace Market Economics.
Price is the intersection of fear and hope. You and I hope that the economy improves, but we fear that it will not.
The Anti-Capitalists, Keynesian air-heads, the OWS and the Liberal Agenda Media say it the same way but they think it this way: “ We need to stimulate the economy so it will increase by the sheer GREED of the fat cats on Wall Street, and we KNOW that the financial hell we create will also be due to the sheer GREED of the Fat Cats on Wall Street.
Liberals see only greed and despair in private business, whereas the market sees hope and fear driven by supply and demand.
The kitchen table for American Families is where the family checkbook gets balanced every month.
The Kitchen Table for the US Federal Government is the conference table that resolves the budgetary differences between the US House and Senate. That table has been unused since arrogant and incompetent Dictator “You Lie” Obama came to power.
To say that the US Federal Government is in a tailspin financially is an understatement!
It is time to reject Keyensian Economics as it has NEVER worked!!!!!
It is time to embrace “The Invisible” hand of Samuel Adams’ Free Market and restore supply and demand, fear and hope to America.
Failure is essential to drive home the powerful fear that motivates those who sincerely want to succeed. DISCARD THE DAMNED VOLKER RULE onto the trash heap of failed economic ideas, as it is based on the false premise that only Government can protect all of us from things that go bump in the night.
The Bolsheviks have had their day, and it is time to stand up to them by IMPEACHING Obama, abolishing the Dodd Frank Anti-Banking Law, and each year cutting 10 % across the board on all Welfare Federal Baseline spending, and each year a 20 % cut to the salary and expenses to all elected Federal Politicians.
Since 30 % of the wealth in the World was destroyed in 2008 and 2009, it is high time that the size of the US Federal Baseline Spending be decreased by 30 % in the next 3 years.
The US Federal Government has been a 20 % predator to the US Economy from the end of WW2 until the Zipper Boy years.
Now the Keyensian Debt of the US Federal Government is greater than the GDP of the entire US Economy.
At 1:48 PM EVERY work day the US Federal Government runs out of money, and is forced to borrow money from our grandchildren to finish out each work day.
The Gold Standard got in the way of Keynesian Economics, NOT of wealth creation. Wealth creation went on in spite of the 20 % predatory taxation millstone of the US Federal Government.
Each hotshot politician that comes along has some Keyensian gimmick to buy votes from gullible voters. JFK bought our votes with his damned “Federal Aid to Education” and now the crib to unemployment line debt created is greater that the credit card debt of their parents! Thanks for NOTHING, JFK!!!!!!!!
But I digress.
Ponder the words of Paul Harvey: WHEN YOUR OUTGO EXCEEDS YOUR INCOME, YOUR UPKEEP WILL BE YOUR DOWNFALL.