Starting from the irrefutable premise that inflation is a hidden tax that redistributes wealth from the poor to the rich, hitting the low-paid harder than any other demographic, let me see if I’m following Unite’s argument correctly.
The graphic clearly shows that wages haven’t kept pace with inflation.
Unite, and the tens of thousands of useful idiots marching today are clamouring for inflationary government intervention to reverse this trend.
Need I go on?
Where did Keynes go wrong? Just about everywhere.
The fundamental Keynsian nuggets, not surprisingly, are generally base metals, composed of his reliance on intuition his continent-sized ego, and a contrarian desire to surprise.
So why do governments keep falling for it? Why were the Bush, and especially the Obama administrations packed with Keynsians prescribing policies that are nearly the opposite of what is required for recovery?
Simple; Keynsian philosophy allows governments to disavow socialist, marxist and fascist motives while still pursuing policies which consolidate power into government hands. It also makes politicians jobs relatively painless, at least in the short term….
- the answer to government debt is to increase it.
- if low interest rates are encouraging bad debt, do even more to
- lower interest rates.
- if the people won’t spend, the government can do it for them so as to stimulate the economy.
- spending is the way to wealth.
- printing more money is a form of savings.
- the government is always the wisest investor over the long term.
In other words, Keynesiansism gives government a cover of legitimacy to do those corrupt things that it has a natural tendency to do. Politicians’ vain conceit that they understand how to set prices and control the economy fuels their arrogance.
Let us hope that we do not have to wait too long for Keynes to join Mao and Marx and other faded and false utopians. To turn away from false utopias does not mean giving up on entirely attainable ends and ideals. We can have a stable economy, one built on truthful prices and profits.
These are the nihilist beasts that our House of Commons voted to recognise by a margin of 274 to 12 on Monday.
Gaffe: noun. When a politician inadvertently tells the truth
Well well well….
"The other reason the New York Times is bestowing its official benediction upon the “hey, guess what, Saddam did have WMD!” storyline is Hillary Clinton. Her impending presidential campaign requires some cover for her vote in favor of the Iraq war, especially if she keeps using surrogates like Leon Panetta to paint Barack Obama as a boob she quietly tolerated while Secretary of State because she’s a good soldier. Obama’s people have already reacted angrily to Hillary’s “distancing” efforts. Those efforts will surely intensify as 2016 approaches, pitting a Clinton team eager to portray her as the smart centrist Democrat who can clean up Obama’s mess versus Obama loyalists eager to build up his “legacy.” Somewhere in that scrum, Obamabots are going to throw a “she voted for Bush’s War!” punch at Clintonoids.”
Who’da thunk it?
For the record, I’m with the late lamented Hitch on this one. She’s a shitwitch of the highest order, and her husband, a beta male if ever there was one despite being a notorious stalker, a bully and an abuser of women, is a shitwitch enabler.
Weapons-grade useful idiocy at Colgate University.
When it comes to the warm welcome of appeasement, nothing is too much trouble for political elites from Cyprus to Alaska. From generous welfare funding to the banning of marches and speakers critical of Islam, from blind eyes turned to grooming gangs to deaf ears cocked to inflammatory speech, Muslims merely have to post a request into the suggestion box, and a progressivist useful idiot acting in the sacred name of multiculturalism will make it so. And, thanks to what Muslims must view as mein host, being a Mohammedan means never having to be alone. Co-religionists arrive in the West daily by the plane-load, while our political gauleiters ignore jihad in favour of informing us that Islam is responsible for everything from the plough to the Large Hadron Collider.