What Is The Foundation Of Keynesianism?

[worldview]

 

[Gipper]

Keynesianism like Liberalism has a foundation. That foundation is the belief that an omnipresent unlimited centralized government is the solution.

And like Liberalism, Keynesianism is unsustainable and immoral.

 

[Centrehalf]

I want the last 5 minutes 45 seconds of my life back. All this video was was some guy railing against Fiat currency.

What is the foundation of Keynesianism? very simple, the foundation of Keynesianism is a denial of Say's Law, that's all it is. Keynes didn't advocate a permanent state of stimulus and he had different ideas than some other economists as to how to deal with the business cycle. That's it.

 

[Cruella]

It's a theory, much like the global warming hoax, backed by pseudo-science.

 

[Gipper]

This from the great Gary North. So true and yet, many on the left refuse to accept the complete failure of this foolish economic policy or maybe they are psycho. http://lewrockwell.com/north/north1205.html

Dumb bankers love government bailouts. So do Keynesians. Dumb bankers abhor negative economic feedback for stupid decisions. So do Keynesians. Dumb bankers love monetary inflation that leads to banking profits. So do Keynesians. Dumb bankers love national governments large enough to bail out large banks. So do Keynesians. Dumb bankers hate bank runs. So do Keynesians. Dumb bankers want tenure without personal liability. So do Keynesians.
Paul Krugman is the chief spokesman for Keynesianism in our time. He sees his job as making sure that taxpayers bail out large multinational banks. When taxpayers resist, he ridicules them for being short-sighted.
He conceals his position as a defender of banking interests by coming in the name of the workers. But big bank bailouts are the inescapable implication of his recommended policies. He is the multinational bankers' friend. So is his Princeton colleague, Ben Bernanke.
We can see this in his recent article calling for the German government and the International Monetary Fund and the European Central Bank to lend more money to Spain's government even though the government refuses to cut spending.
He wants the economy to avoid the cost of repaying loans from the North. There must be more loans to the government so there can be more payments to people on the dole, who will spend money, and get the economy rolling. Then this will let Spanish debtors meet their interest payments to German banks.
So, once caught in the trap of bad loans to deadbeats, bankers must make more bad loans. Why will they do this? Because the German government, the ECB, and the IMF will keep buying Spain's government's bonds.
If this sounds like Bernanke and Paulson in 2008, that's because they set the pattern.

 

[Centrehalf]

Enough is enough. If you knew anything at all about this topic you could discuss it on your own. Here are the facts in this thread. You watched a video with some doofus complaining about fiat currency and then made a statement about Keynes, a statement by the way that wasn't backed up by anything in the video, and fiat currency has nothing to do with Keynes.

Then, you came back in with an excerpt from an article that said this:

We can see this in his recent article calling for the German government and the International Monetary Fund and the European Central Bank to lend more money to Spain's government even though the government refuses to cut spending.

Why wouldn't he say this, he's a Keynesian. This is your smoking gun? This is supposed to prove that he, and people who think like him, don't know what they are talking about? How convenient for you that we're in a retraction phase right now, because you don't have to post what Keynesians say when the times are good. That would throw a monkey wrench in your "Keynesians want to spend all of the time" argument.

The basis for Keynes's thought is that he denies that Supply creates it's own Demand. That's it. Read a book once in awhile. Keynes was an economist, not a political scientist or a social engineer. When our government constantly spends beyond it's means it's not because they like Keynes, it's because they are incompetent. They point to some of what Keynes wrote as an excuse for their bad behavior, and people like you once again accept the boogeyman.

Gip, I have to ask...do you ever read anything on any topic that you talk about?

 

[Gipper]

Gip, I have to ask...do you ever read anything on any topic that you talk about?

We can't all be as smart as you....