6 Responses to “Keynesian economics is for dummies”

1. matt on September 9th, 2009 2:57 am

   Screw this.

   HE made some good points but

   He set off my pundit alarm when he called Hoover a Keynesian, or for that matter calling Ford the biggest keynesian of the cold war (he was only in office for two years?)

   Tired of conservatives and libertarians in this country. Oh well

2. A Conservative Nutcase on October 15th, 2009 8:23 pm

   1. Ford was an inexperienced president who yes, was only in office for two years.
   2. Just because you don’t like our views does not make us bad.
   3. We are sick of you liberals and your poor policies too!

   This is why I am glad I live in America, the land of he free and the home of the brave, one nation under GOD might I add, where we have freedom of speech and of press. You don’t like the people in your country, fine, but it gives you greater freedom because you share the freedoms I have.GOD BLESS AMERICA.

3. No Dummy on October 16th, 2009 9:22 pm

   So so so so so true. Government can’t give you anything it has not already taken from somebody, and a goverment that is big enough to give you everything you want is also big enough to take away everything you,ve got.

4. Keith Gardner on March 9th, 2010 5:35 am

   The obvious solution is to end the Federal Reserve and fractional reserve lending. As private debt is paid off and deleted, the U.S. Treasury can issue debt-free dollars at the same rate. This would put real dollars, free of debt, into circulation. Banks would build real reserves and would compete in a true free market of savings and loans. Inflation and deflation could both be prevented. Furthermore, the debt-free dollars wouldn’t require the issuance of treasury bonds. For every $1B the Federal Reserve issues, the private banks create an additional $10B. The amount of tax free revenue in the first few years would be enough to pay down the debt, eliminate income taxes, and save Social Security. This could go on for 30 years as we pay off the treasury bonds and pay off mortgages with debt free dollars created at no interest by the U.S. Treasury. That is how much the Federal Reserve and fractional reserve lending system is screwing us with their ponzi scheme of debt.

5. Doc on April 15th, 2010 2:29 pm

   To “Matt” who posted in 2009, liberalism and progressives are the reason for our troubles. And guess what hoser, liberty lovers and conservatives founded this nation. So thank the conservatives that you have the freedom to run your mouth ignorantly.

   Keith has gotten it right, 110%! The Keynesian models would have the government adopt huge spending programs to put money in consumers hands or build government infrastructure, like healthcare, stimulus checks, rebuilding jobs…OH WAIT, that’s exactly what we did. This never works with fractional reserve banking. You have to hope every entity at the top is honest. HA!

   Austrian economics models are correct, but we will never see that in America. The Emergency War Powers Act of ‘33 says our debt cannot be paid back by federal reserve notes (dollars), only silver and gold. Which nobody has. So this system was built to bankrupt us and fail.

6. Chris on July 24th, 2010 11:50 pm

   Matt, would you care to elaborate on how Hoover wasn’t a Keynesian? The notion that Hoover did nothing is a total lie and I don’t know why our history books keep glossing over this fact. He raised taxes and enacted the Smoot-Hawley tariff, which basically crippled all trade in this country. Then, he enacted various social programs such as his own public works projects. Keep in mind that FDR ran on a platform criticizing his spending, yet once he was elected, he reversed course and expanded upon his policies. If you need further proof, look at some of Hoover’s statements while he was Secretary of Commerce during the 1920 recession. While Harding did the right thing and cut back taxes and spending, Hoover wanted the opposite. Hooverism is the same thing as Keynesianism, just with a different party running the show.

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