i am just a kitten and we’re only on unit two of econ in school, but i am starting to suspect this whole keynesian stimulus thing might be kinda stupid…
on the other hand, it does maybe seem to provide a great reason to do some bad stuff you wanted to do anyway!
I took econ in college up to econometrics. Somewhat later I discovered the Austrian School, of which there was not a single mention in any of my classes.
It did not take me too long to realize what I had learned in college, from macro on, was complete nonsense.
I don't defend Keynes, but what is called and practiced as Keynesian today is actually not. Keynes advocated printing money to get out of recessions, but then stopping when they were over.
Now, of course it is just print, print, print and print some more. This is, of course, exactly what one would expect to occur when the State is freed from the constraints of the gold standard.
Curiously, or perhaps wishfully, Keynes himself foretold exactly what would happen to us:
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.
Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become "profiteers," who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds…, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.
Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
~John Maynard Keynes, The Economic Consequences of the Peace (1919)
America will never again be free until the income tax and Federal Reserve are abolished.
"on the other hand, it does maybe seem to provide a great reason to do some bad stuff you wanted to do anyway!"
In the realms of Federal contracts and unconstitutional policies this is done by classifying anything as an emergency and adhering to the idea that every crisis is an opportunity.
How much does it take to flip 4 GOP NY State Reps to vote FOR Bidens infrastructure bill? $170B. "The Empire State is set to reap upwards of $170 billion after the House of Representatives passed a $1.2 trillion infrastructure bill late Friday night."
my observation surfing econ blogs: most academic econ's are marxists.... they espouse modern monetary theory whcih is keynes on marxist vitamins. it says you can run deficits up to the point where no one will take your money in trade.... they say high inflation but that is a didge.
the intent of the so called infrastructure bill is to ruin the us dolatr, the reason the squad (aoc et al) voted against it is they wanted to do more damage linking it to the build back bolshevik bills aka reconciliation con job.
one thing insane in the bill was $150B for wind and solar..... to maintain energy reliability there must be rapid replacement generation: oil coal or nuclear for each kw of wind volts and solar watts.....
the democrat children in dc are ruining your country.
The Keynes quote is only one side of the equation. He also said to run surpluses when times were good. Then you create balance as in rainy day funds some states have created. Of course, most politicians are economic illiterates and drink the rent money away.
I am seriouslyish considering renouncing my citizenship, taking off for Mexico for a season and then hiking back North as an immigrant. I am good at looking pathetic and honestly, I could use the extra $450K to pay for health care and gasoline. But, I hate hiking and my Spanish is rusty, hence (ish).
The money printed needed to go Big Brrrrrrrr by the fall of 2019 so yeah... my original theory on all this was the Fed et al knew full well the monetary system was on the brink of collapse and they needed a good canned reason to print endlessly. Sad to say Trump had no problem hitting the money button first.
Little tyrants all over the world better start listening to these people while they are still peaceful or they may just find themselves swinging from lampposts in the not-so-distant future.
Keynes is an idiot “animal spirit” follower. Von Mises had it right and Hayek too. Unfortunately, Keynes is lauded in government and media because his theories allows government to spend-spend-spend, as if money is free
Once you go full fiat, the fake economy of collusion between bankers and politicians is destined to take over the real economy of providing goods and services. Now they can zap up unlimited dollars and hand those dollars out to the politically connected. This is how currencies are ruined.
I took econ in college up to econometrics. Somewhat later I discovered the Austrian School, of which there was not a single mention in any of my classes.
It did not take me too long to realize what I had learned in college, from macro on, was complete nonsense.
I don't defend Keynes, but what is called and practiced as Keynesian today is actually not. Keynes advocated printing money to get out of recessions, but then stopping when they were over.
Now, of course it is just print, print, print and print some more. This is, of course, exactly what one would expect to occur when the State is freed from the constraints of the gold standard.
Curiously, or perhaps wishfully, Keynes himself foretold exactly what would happen to us:
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.
Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become "profiteers," who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds…, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.
Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
~John Maynard Keynes, The Economic Consequences of the Peace (1919)
America will never again be free until the income tax and Federal Reserve are abolished.
"on the other hand, it does maybe seem to provide a great reason to do some bad stuff you wanted to do anyway!"
In the realms of Federal contracts and unconstitutional policies this is done by classifying anything as an emergency and adhering to the idea that every crisis is an opportunity.
What’s wrong? The stock market is at all time highs! (Insert laughing emoji)
How much does it take to flip 4 GOP NY State Reps to vote FOR Bidens infrastructure bill? $170B. "The Empire State is set to reap upwards of $170 billion after the House of Representatives passed a $1.2 trillion infrastructure bill late Friday night."
i did not read the bill passed last night.
my observation surfing econ blogs: most academic econ's are marxists.... they espouse modern monetary theory whcih is keynes on marxist vitamins. it says you can run deficits up to the point where no one will take your money in trade.... they say high inflation but that is a didge.
the intent of the so called infrastructure bill is to ruin the us dolatr, the reason the squad (aoc et al) voted against it is they wanted to do more damage linking it to the build back bolshevik bills aka reconciliation con job.
one thing insane in the bill was $150B for wind and solar..... to maintain energy reliability there must be rapid replacement generation: oil coal or nuclear for each kw of wind volts and solar watts.....
the democrat children in dc are ruining your country.
Vaccine apartheid is infrastructure?
“Keynesian Economics” or “Lies my Econ Prof Told Me”
The Keynes quote is only one side of the equation. He also said to run surpluses when times were good. Then you create balance as in rainy day funds some states have created. Of course, most politicians are economic illiterates and drink the rent money away.
yes, we have plenty of that happening over here,.... thanks for the reminder, Fuzzyface.
This is why we have such great looking carpet and carpet bits all over the place.... I mean everywhere.
I am seriouslyish considering renouncing my citizenship, taking off for Mexico for a season and then hiking back North as an immigrant. I am good at looking pathetic and honestly, I could use the extra $450K to pay for health care and gasoline. But, I hate hiking and my Spanish is rusty, hence (ish).
The money printed needed to go Big Brrrrrrrr by the fall of 2019 so yeah... my original theory on all this was the Fed et al knew full well the monetary system was on the brink of collapse and they needed a good canned reason to print endlessly. Sad to say Trump had no problem hitting the money button first.
I’m sure they’ll exclude the sinful unspiked …
Keynesian Cat + Malthusian Cat = PSYOP-21 mother of all crashes
Did you also notice that the Canadian PM ordered 2 times the Population of Canada in vaccines ?
Hmmmm
That’s what kitties do when they scratch our couches and chairs!
OT but have a look at this speaker at a big protest in Oz:
https://twitter.com/i/status/1456984994509955081
Little tyrants all over the world better start listening to these people while they are still peaceful or they may just find themselves swinging from lampposts in the not-so-distant future.
Keynes is an idiot “animal spirit” follower. Von Mises had it right and Hayek too. Unfortunately, Keynes is lauded in government and media because his theories allows government to spend-spend-spend, as if money is free
Oh no, gatito - looks like you've come down with a bad case of cat-scratch fever! Better get a PCR test just in case it's something more
Once you go full fiat, the fake economy of collusion between bankers and politicians is destined to take over the real economy of providing goods and services. Now they can zap up unlimited dollars and hand those dollars out to the politically connected. This is how currencies are ruined.
BTC on election night: 15k
BTC today: 61k
LOL.. you should write for the babalon bee
That's the entirety of Keynes in a nutshell. Thanks, Gatito.
econimics is a social study.....
since keynes they been playing social studies with numbers......
like covid and climate models their number games are baselss
So Jurassic Kitty is really Keynesian Kitty: https://www.youtube.com/watch?v=W85oD8FEF78
¡Gato malo! ¡Sin duda!
And this is one reason (of many) why I proudly wear my "Hayek Rocks!" t-shirt.
Food for thought...
https://jermwarfare.com/blog/john-titus
*cough* bitcoin
Whatever you do, don't tell your purrrrrfessor about your suspicions.
Legit lol'd.