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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (774940)3/14/2014 4:09:34 PM
From: Steve Lokness  Read Replies (3) of 1576360
 
Fascinating comments Mindmeld.

<<< Keynesianism is never a solution of root causes, but rather all it does is buy you time >>>

I completely agree, but we have been living off keynesian styled stimulus so long that we have become addicted to it. As I noted in a previous post. Going all the way back to when Bush first took office, cut taxes and gave tax payers a refund and then as if that wasn't enough Greenspan cheered the parade jumping on board with way easy money. Even wars in my mind are keynesian spending programs.

And that is the evil of keynesian coupled with a democracy. We vote for who will give us the most and pass on the most to worry about some time down the road. It's a mind set. Conservatives - fiscal conservatives - should have stood up and denounced the ridiculous evil easy money of Greenspan (and Bush) but instead they embraced it. They worshiped Greenspan. So Bush got a complete pass - and when things really needed a temporary "keynesian - buy me some time" - it got ratcheted up. Obama had no choice and since democrats by their very nature are not good fiscal disciplinarians and since Bush had already spread his favors on his crowd of supporters, well my goodness it was now the turn of democrats to get rewarded. And of course they did. ...........Speaking of mindset, what do the Austrians tell us about the role of the mind - collective human action? What are the business cycles, that Austrians preach if not group thinking? And so we enter this bizarre world where even the Austrian economic predictions have - for me - mysteriously not gone along with what we should expect. ..........Where is the inflation!!!!
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