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Politics : President Barack Obama
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To: RetiredNow who wrote (113984)5/20/2012 3:50:37 PM
From: tejek  Read Replies (1) of 149317
 
you say Keynesianism works, but everywhere it is being tried, it isn't leading to a sustainable recovery. Keynesianism is only a way to paper over the real root causes of the global malaise, which is a massive debt overhang. That debt needs to be cleared. If we'd let the free market do it, then those debt levels would have already been adjusted, defaulted, and restructured to levels that would allow the global economy to grow again. Until we let that happen, it doesn't matter how much stimulus you through at it with more deficits and debt, the outcome will be increasingly worse.

I have pointed out over and over again that when the markets were freer than they are now recessions were more severe and depressions much more frequent. The fact that we have debt in the US and annual budget deficits is because the Rs decided to make us the policeman to the world after WW II. And even then we were still reducing the debt leftover from that war.........until Reagan appeared and came up with the brilliant idea to let the 1% have a free ride. Budget deficits once again became the norm and the debt started rising once more......stopped again under Clinton and resumed under Bush and now Obama.

Frankly, MM, I am sick of Republicans and their cockamanie solutions for the economy. So do me a favor and call up Merkel and the two of you can console each over the fact that no one understands nor appreciates your suggestions for the economy. They look great on paper but don't do well in practice. Sorry.
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