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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (685901)	11/23/2012 12:57:16 PM
From: combjelly	Read Replies (1) of 1579486

Talk about just making it up... Sure, classical Keynesian theory did not allow for stagflation. This was a recognized problem by the 1960s. And changes were made to account for that. Claiming that high interest rates is "Keynesian" is a silly claim. No it isn't. The economic contraction leads to inflation dropping off. The risk is deflation. Note the recent economic bellyflop. We were touch and go with deflation for quite a while. And inflation is still low. With inflation under control, any easing of credit would have resulted in the economy taking off. Which it did. OPEC falling apart was a bonus. There is np need to resort to 'voodoo economics' to explain the events.

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