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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (871782)	7/10/2015 6:13:10 PM
From: tejek	Read Replies (4) \| Respond to of 1576929

Keynesianism is in full throttle the world over. You don't have to meet the man to buy into his economics. I have graduate level economics under my belt I don't believe you. You seem to have a very rudimentary understanding of economics that is very much steeped in ideological conservatism. and Keynesianism is what they teach in almost every higher learning institution in the US. Austrian economics, Hayek, Mises, and others get short shrift. A famous person once said, we're all Keynesians now. And maybe that's because the economics of the Austrian school do not work all that well. One need not look any further than the country of Austria. So true. And we'll reap the whirlwind from that now. We already are. Just remember I said this, when the time comes. We've kicked the can from bubble to bubble to bubble, until at last, governments have eaten up all the bad debt. The next of the dominoes to fall will be entire countries and their currencies. There is nowhere to kick the can to now the game is almost fully played out. Greece may be next, but they won't be the last. Oh shit........MM..........you have been threatening us with your prognostications since 2008. Not one has come true. NOT ONE! Don't you get tired of being wrong?

To: RetiredNow who wrote (871782)	7/10/2015 7:09:29 PM
From: combjelly	Read Replies (2) \| Respond to of 1576929

Keynesianism is what they teach in almost every higher learning institution in the US. Not really. They like to talk about "saltwater" and "freshwater" schools of economics. The institutions on the coasts(i.e. "saltwater") tend to lean Keynesian. Schools in the rest of the country (i.e. "freshwater") tend to lean Chicago School. Austrian School is viewed as a fringe school. Maybe for profit schools lean that way. A famous person once said, we're all Keynesians now. Allegedly by Richard Nixon as recounted by Milton Friedman. Do you know why this statement was allegedly made? Because in times of economic crises, Keynesian economics has a proven track record of working. Austrian School and to a lesser extent, Chicago School has a very poor track record in such times. For example, Estonia. Was one of the fastest growing economy in the world prior to The Great Bellyflop. Got hopped on Austrian School as the roadmap to recovery, implemented austerity measures and cut spending. The economy promptly cratered. Was the poster child for worst performing economies for years. Had a brief blip in 2011, but that didn't last. Unemployment is finally below 10%.

To: RetiredNow who wrote (871782)

7/10/2015 7:55:29 PM

From: bentway

Read Replies (2) | Respond to of 1576929

"We are all Keynesians now" is a famous phrase coined by Milton Friedman and attributed to U.S. president Richard Nixon. It is popularly associated with the reluctant embrace in a time of financial crisis of Keynesian economics by individuals such as Nixon who had formerly favored less interventionist policies.

We are all Keynesians now - Wikipedia, the free ...
en.wikipedia.org/wiki/We_are_all_Keynesians_now

That's because, when the shit hits the fan, Keynes is the ONLY one with a prescription!