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

To: RetiredNow who wrote (144866)	8/1/2014 11:25:49 AM
From: koan	Read Replies (1) \| Respond to of 149317

That makes no sense. Economic professors are paid by the university and they don't have a dog in that fight. Mostly they just teach economics the way they understand it with no agenda. You are ascribing an agenda which simply does not exist. The economics professors around the world are teaching economics as they understand it. And I don't know of any economic professors teaching Austrain economics today. That is an old theory and the field of economics has moved on. <<Same thing goes with Keynesians. The developed world is highly in debt and running massive deficits to cover their aging populations' retirement and health care costs, as well as the unaffordable welfare states they have created. Here in the US, we have the additional burden of a ridiculously oversized military and spy apparatus. The government understands that none of that is sustainable. So they need the masses to believe Keynesiansim works, because they use it to engage in stealth taxation of the people to pay for all of these things. Money printing and low interest rates aren't free. All that does is pull forward demand, destroy purchasing power, and lessen the burden of deficits and debt through inflation. What difference to you does it make if you are taxed or your money is devalued? It's the same thing. If yesterday you could by two loaves of bread and now you can only buy one because they taxed you at 50%, then isn't that the same as when they devalued your currency by 50%, and as a result prices rose by 100%, leaving you with only enough purchasing power to buy 1 loaf of bread? Same damned thing. It's called stealth taxation and it hurts the 99% the most.