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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (613619)5/28/2011 6:36:58 PM
From: Tenchusatsu3 Recommendations  Read Replies (5) of 1576266
 
CJ, > The Republicans screwed this country over, but we are supposed to ignore that and embrace their solutions which look very much like the same policies that got us here.

That's the problem. You can't resist making this into a partisan issue.

Both Republicans and Democrats were instrumental in making this happen. Everyone played along until it all collapsed, then the blame game started.

> This is precisely what is at the heart of Keynesian economics. Along with raising taxes to pay down deficits when times are good.

Keynesian economics fell out of favor in the 1970's when stagflation occurred.

These days, Keynesians think that we need to pump up the economy with MASSIVE deficit spending. Well, they're getting their wish. Only problem is that the credit is running dry. Even the world banks now want to move away from the dollar as the world's reserve currency.

Once that happens, there is no way we can continue printing money as usual. And for what? Even Obama doesn't have anything more ambitious than reducing the deficit to half the current levels, which would bring us to $750B/year. Not good enough.

Bottom line is that Keynesian economics is dead. Liberals are trying to resurrect it to give credibility to their tax-n-spend nonsense, but it's leading to disaster.

And all they can do in response is blame Bush. Especially Krugman, who has become a real shill.

Tenchusatsu
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