Keynesian Political Economy Is Theft

The plague of our time is Keynesian economics. It has destroyed the economics profession and enabled the political class to obtain powers never intended. Keynesian economics provided the intellectual cover for the criminal class we politely call “government” to plunder its citizenry. In the beginning, clear-thinking, independent economists (not dependent on government largess) expressed objections to this “new economics.” There was [...]

Keynesian’s ObamaCare Dilemma

Where are the Keynesian economist’s objections to ObamaCare? By objections, I do not refer to dissatisfaction with the website implementation or the continuing revelations of cancellations or health cost increases. These are deficiencies that proponents and opponents alike can agree on. Keynesians, however, should object on macroeconomic grounds. The implementation of this program in a slow and ailing economy will [...]

Sundown In America

A very long and relevant talk was given by David Stockman at Harvard. His conclusion is that the problems are political and irreversible, two common themes of this website. Imagine how this bastion of liberalism must have taken his analysis? His talk follows (the emboldening in mine). SUNDOWN IN AMERICA: THE KEYNESIAN STATE-WRECK AHEAD Remarks of David A. Stockman at [...]

Keynesianism is Killing Us

Keynesian economics holds as central premises that economies should, need and can be managed. Each of these premises is plain wrong. It was wrong when Keynes introduced his theory in 1936 and it is even more wrong today. Furthermore, politicians and his acolytes have extended its use beyond which even John Maynard Keynes would likely have accepted. Economics is not [...]

QOTD — Keynesianism

A deservingly disrespectful view of Keynesian Economics was penned by Andy Sutton. It deserves reading. For those short of time, the following quote will suffice: … Keynesianism was and is nothing more than a short-term shuck and jive to paint the picture of growth where there was none. To create the illusion of recovery where there was nothing but stagnation, [...]

The Country Is Over

Data are hard to deal with when your vision is on the wrong side of it. Those wanting to claim there is a recovery underway are having just this problem. These people either have no understanding of economics or they believe falsely that they can inflate “animal spirits” with their hyped reports and that will initiate a recovery. There will [...]

David Stockman Alienates Both Ends of The Political Spectrum

David Stockman wrote an intriguing article which appeared in the NY Times. That it appeared in the Times is noteworthy itself, for it contradicts so many liberal shibboleths the paper has supported (promoted) for many years. Its appearance is less likely to reflect the first steps to Damascus and may be a sign of financial desperation where the need for [...]

Government Treating Cancer With Aspirin

There are times someone makes a point or points you have tried to make for years and you are captured with their succinctness. It is what you have been trying to communicate but seems to be done so easily and skillfully. For years I (and others) have argued that what the Federal Reserve was doing was merely cosmetic. It was [...]

For Simple-Minded Keynesians

For those who haven’t yet grasped the uselessness of government policy, please read Charles Hugh Smith’s simple fourteen point explanation below. It details the steps government has taken, why they are failing and why the middle and poorer classes must get poorer. It also suggests that we are close to the end of the Ponzi scheme that has provided the [...]

The Zombie Economy Is Dying

It is easy to rant about the economic condition of this country and the world. It is, quite simply, horrible and terminal. The US economy, like a zombie, staggers around half alive and half dead in its own special purgatory. The other developed social welfare states of the world are in similar condition. This blog frequently discusses why there can be [...]

Playing Financial Chicken In Your Golden Years

My generation, born during or near post World War II, has been quite fortunate. Those of us lucky to have been born in the US during this period hit a sweet spot of both place and history. The economy thrived, standards of living soared and many avoided the numerous wars that dominated the Twentieth Century. Today, the future does not [...]

The Beast Is On The Prowl

As the economic collapse approaches, be aware that government will become more desperate and resort to measure(s) that will enable it to survive. The myth of government as a good, necessary and positive force in society is coming unraveled. To understand how we got to this point, it is useful to review some economic history..  The US has gone through many [...]