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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (749998)10/28/2013 6:25:44 PM
From: combjelly  Read Replies (1) of 1577496
 
What Volker did was pure Keynesian. Just ask him.

Cutting taxes and relaxing regulation when the economy is doing ok is not a Keynesian approach. In fact, Keynesian economics only got resorted to when the Republicans damage the economy and the adults need to fix things.

The problem with deflation is that it kills anybody with debt. Like most businesses. Your 'good deflation' isn't really deflation, though. It only occurs in certain areas and is the result of increases in efficiency. Real deflation is more or less across the board and it is difficult to stop the progression to a deflationary spiral. And that really sucks for everyone.

Now, as to fiat currency. Do you honestly think it is a good idea where your economy can only grow if more is mined? And at the mercy of some not so nice countries?

There is a reason why no country incorporates much in the way of Austrian School. When they do, like the austerity measures in Europe, they regret it.
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