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.
This is what happens anywhere you let men control the supply of currency. There is an alternative. If you're not looking into that, you'll get what you deserve when the outcome you predict occurs. Best of luck.
Oh, you can be sure I'm far beyond just looking into it, and have been for quite some time.
Many of us have been seeing the coming storm for a long time. What has amazed us is that it has taken longer than we expected to arrive, but arrive it will.
The clouds are on the horizon and the wind is really picking up.
"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.
Half right, it is fully bipartisan as are the notable exceptions. Any belief one party has fewer dirtbags and any less greedy and nefarious is the real problem. They all serve the donor class in pursuit of individual wealth and power.
So much this. Twitter becomes an endless defense of one side of politics or the other, while a few of us sit back and say uhhhh guys? They are all as corrupt and duplicitous as one another.
The issue is not the parties, it's the system. Politicians spend more time trying to erode checks and balances than they do representing the people who voted for them.
Keynesian notions suggest we can build societal wealth by digging holes and filling them in again. Full employment! However, an astute individual may sense a problem with such notions; no econ studies required.
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).
No worries Raptor. Universal healthcare is coming sooner than you would think. With the fallout of vaccine injuries overwhelming hospitals (and individual's insurance) the gubment will come to rescue all of us from these unexplained side effects of the virus. We will need the Federal government to handle all of our responsibilities before long.
You will own nothing and be happy (that you are not dead - yet).
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
I think a good constitutional amendment would be that any spending bill’s first 10% needs to be paid-in-full by the government official and their descendants. And this debt cannot be forgiven by any act of government.
Lest we go into the spiral of he never said that, be aware the quote isn't by the old wise men. What really is true was the founders wanted voters to have a stake in the game and restricted the vote to property owners. That restriction has gone away so that people do feel free to give away other people's money - until, as Thatcher notes, we run out of other people's money. But the Fed has a way of devaluing your labor by simply printing paper as a medium of value. Your only hope is to hold General Mills stock with a prayer for some Cheerios when you might need them. IOW an inflated stock market.
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.
This is what happens anywhere you let men control the supply of currency. There is an alternative. If you're not looking into that, you'll get what you deserve when the outcome you predict occurs. Best of luck.
Oh, you can be sure I'm far beyond just looking into it, and have been for quite some time.
Many of us have been seeing the coming storm for a long time. What has amazed us is that it has taken longer than we expected to arrive, but arrive it will.
The clouds are on the horizon and the wind is really picking up.
I think perhaps it won't be long now.
https://jermwarfare.com/blog/john-titus
"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.
And, if no crisis exist, create one; Astroturf!
Prophetic, American Thinker; Barack Obama and the Strategy of Manufactured (Contrived) Crisis: http://www.americanthinker.com/articles/2008/09/barack_obama_and_the_strategy.html
It’s become a staple of the left.
Half right, it is fully bipartisan as are the notable exceptions. Any belief one party has fewer dirtbags and any less greedy and nefarious is the real problem. They all serve the donor class in pursuit of individual wealth and power.
So much this. Twitter becomes an endless defense of one side of politics or the other, while a few of us sit back and say uhhhh guys? They are all as corrupt and duplicitous as one another.
The issue is not the parties, it's the system. Politicians spend more time trying to erode checks and balances than they do representing the people who voted for them.
Yeah, your right. When the right runs a play, WMD, we end up in a war. When the left runs a play, we end up in a plandemic.
yes, I remember this. Tragic. BO is still their "God"
That's why I call him Chocolate Jesus.
The reactions can be quite delicious.
God of the Laser Dot! https://www.youtube.com/watch?v=myx6h6iASiQ
MUST READ... sums it all up... thank you💕💕💕🐱
Keynesian notions suggest we can build societal wealth by digging holes and filling them in again. Full employment! However, an astute individual may sense a problem with such notions; no econ studies required.
What’s wrong? The stock market is at all time highs! (Insert laughing emoji)
and it will go higher until the north goes rolling black out this winter.....
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."
Our IL rep, from my district, good ole Adam Kinzinger voted for it. So disgusted.
He used to be a conservative. He is retiring at the end of his current term, Sorry he's going out this way. Thanks for your service, congressman.
I’m sorry too. He’s going for Governor or Senator or President. Sigh.
Fuck them. I am so disappointed.
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?
more like infa-stricture
“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).
No worries Raptor. Universal healthcare is coming sooner than you would think. With the fallout of vaccine injuries overwhelming hospitals (and individual's insurance) the gubment will come to rescue all of us from these unexplained side effects of the virus. We will need the Federal government to handle all of our responsibilities before long.
You will own nothing and be happy (that you are not dead - yet).
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
I am surprised it's that few!
Aussie PM has ordered 8x - 2 shots + 6 boosters: https://stoichastic.substack.com/p/coincidences-i-dose-foreshadowing
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
I think a good constitutional amendment would be that any spending bill’s first 10% needs to be paid-in-full by the government official and their descendants. And this debt cannot be forgiven by any act of government.
When the people find that they can vote themselves money that will herald the end of the republic.
Benjamin Franklin
This is so appropriate.
Lest we go into the spiral of he never said that, be aware the quote isn't by the old wise men. What really is true was the founders wanted voters to have a stake in the game and restricted the vote to property owners. That restriction has gone away so that people do feel free to give away other people's money - until, as Thatcher notes, we run out of other people's money. But the Fed has a way of devaluing your labor by simply printing paper as a medium of value. Your only hope is to hold General Mills stock with a prayer for some Cheerios when you might need them. IOW an inflated stock market.
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.