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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (128545)	12/7/2012 1:33:24 PM
From: koan	Read Replies (1) \| Respond to of 149317

What you have just done is make the argument for SS. You have done a great job of preparing for retirement, but most people don't or can't do as well. <<It's not a strawman, it's a metaphor to help make my point. The thing is that Keynesians believe by printing and borrowing, we create prosperity. But this is an illusion, not real wealth. I have plenty of friends who spend a lot of money and don't have one dime in the bank for retirement. I have cheap cars and modest house and I don't spend a lot of money, except on vacations. I have a very large retirement nest egg that my wife and I built over the last 20 years and my kids will emerge from college debt free. I won't need a dime of SS and Medicare in my retirement. But if you compare me to my friends, I look like the beggar. Who's wealthier? I am. That is a perfect metaphor for the difference between Keynesians and Austrians. The Keynesian economics will make us look wealthier, because GDP will rise, but to do that they must borrow from the future to spend today. That destroys future growth and depletes savings and investment, which are the organic drivers of future growth. I don't know if I can make that clearer, but I hope this was clear enough for me to get my point across. Do you understand what I'm trying to say?