You think we live in a zero-sum Universe?
You want people to have more cake?
Bake a bigger cake.
It’s time to reconsider this grant of authority to the state. No good has ever come from granting monopoly power to the state to use aggression against the people to arbitrarily mold human behavior. This method of governance has been adequately tested, and the results are in: reality dictates we try liberty.
It’s so cold outside that I swear I just saw a statist putting his hands in his own pockets.
These may very well prove to be the most doom-laden two paragraphs ever written in the English language….
"….it would mean the euthanasia of the rentier, and, consequently, the euthanasia of the cumulative oppressive power of the capitalist to exploit the scarcity value of capital. Interest today rewards no genuine sacrifice, any more than does the rent of land. The owner of capital can obtain interest because capital is scarce, just as the owner of land can obtain rent because land is scarce. But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital….
….Thus we might aim in practice (there being nothing in this which is unattainable) at an increase in capital until it ceases to be scarce, so that the functionless investor will no longer receive a bonus.”
John Maynard Keynes (who else but the architect of our destruction?)
Read the second paragraph again. And again. Then get very, very angry.
It is nothing more than an exhortation for governments and central banks to inflate us all into destitution, particularly the poor, the supposed beneficiaries of this dangerous lunatic’s machinations.
It’s not too late to end this, but it soon will be.
Life Without Stimulus
Republicans constantly remind us that the Obama stimulus—the American Recovery and Reinvestment Act of 2009—did not work. They voted against it. In the United Kingdom the government is led by Conservative Prime Minister David Cameron. His government did not adopt stimulus. Instead it boldly enacted an economic program that cut spending and raised taxes. The chart below shows the results and compares it to the U.S. experience. After three and a half years, U.S. GDP is just about returning to the pre-recession peak. That’s awful. But it s far better than the U.K. where GDP is still five percent ($750 billion in US terms) below its pre-recession peak.
There are still
economists Keynesians out there who think GDP is an effective gauge of growth and prosperity.
Of course, regular economists know that it isn’t.
That is not to say that the Tories are anywhere near getting it right. This is what really needs to happen.
Meanwhile, useful idiots like Mr Sullivan will continue insisting we save the ship by drilling more holes in the hull, and borrowing from the very same bankers that everyone’s marching against to pay for the drill.
You couldn’t make it up.
Bernanke & Krugman Pose For New Keynesian De-Motivational Poster
Uploaded by PenguinProseMedia on Sep 24, 2011
Bartender Ben keeping the nation liquored-up with cheap money, while his Krugman sidekick sings daily the virtues of fiscal drunkenness!
That’s just beautiful.
A recent article by the best-known Keynesian economist at Yale, Robert Schiller, begins this way:
[A] … fact … about our current economic situation … can no longer be denied: our economy is in desperate need of government stimulus.
Does the rest of the article provide a defense of stimulus? No. Since the need for stimulus is undeniable, there is no need to defend it. No reasonable person would disagree. Right?
Wrong. There is a problem here. Reasonable people do disagree, strongly disagree. Robert Barro, the distinguished Harvard economist, wrote an article about the same time as Schiller’s explaining why neither logic nor evidence supports government stimulus programs. Barro is far from alone, among either economists or the general public.
Does Schiller really think this is undeniable because he says it is undeniable? Are we simply supposed to take this on faith? Are we yahoos if we don’t? Is Robert Barro a yahoo?…
It should be obvious to everyone but the most dedicated adherent of Keynesianism that the stimulus did not accomplish its end. The combination of outright spending by Congress, the desperate schemes to reflate the housing market, the attempt to transfuse bleeding firms with other people’s money, and the creation of trillions in artificial money, has not done a thing to lift the US economy.
Actually, the reverse has been true. All these efforts have prevented the adjustment of economic forces to the post-boom world. And all the resources that the stimulus consumed were extracted from the private sector, for we must always remember that government has no resources of its own. Everything it does must come from the hides of private producers and the citizenry in general, in the future if not immediately.