Pro-Democracy Movement Rises Against 'Disaster Capitalism' in Detroit

[JVS]

95. Keynes is for national economies (or technically for economies where you control the money supply...

and the government spending, which is nearly always on the national level). The Eurozone crisis has a lot to do with the fact that money supply and fiscal policy are in the hands of different entities with the European Central bank choosing a tight monetary policies and the national governments having a choice between spending the same amount and austerity (stimulus isn't an option for them due to tight money). In the US the situation is almost reversed with the Federal reserve choosing loose monetary policy but the political obstruction of the republican party forcing flat spending or even austerity measures.

Theoretically Detroit could coordinate with Bernanke and the federal reserve about how to engage in a coordinated "Keynesianism in one county" policy, but this is the kind of thing that if successful would lead to a Nobel prize in economics and would require leadership of an intellectual caliber seldom seen on the mayoral level in this country (maybe Bloomberg, because even though he's an authoritarian dickweed the man understands money).