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Xolodno

(7,370 posts)
12. Wrong.
Tue Feb 16, 2016, 07:19 PM
Feb 2016

Its a Keynes economic "policy"...but not Keynes economics. Keynes economics hasn't been used in any significance for over 30 years. Prior to that, only some of his theories were actually used, which many advocate is what caused "Stagflation", if they had implemented Keynes theories more fully, may have never been a problem.

As for the size of the debt, that's relative to the size of the economy. And the next question, "what is debt?". Wild baseless numbers have been cited that include things that should NOT be included. For example, the trade deficit...that isn't "money owed" by the US government, but a balance between trade accounts, it as nothing to do with debt...and yet, right wing hit pieces will include it. And they will equate deficit to debt which is not the case.

Oh and the stimulus plan did work, we should have had 25 to 35% unemployment and stayed in the Depression (yes, it was a depression, recession is just a word they used not to scare people) of 2008 a lot longer.

Finally, Keynesian economics is probably the ONLY PROVEN CAPITALIST system to work fairly well. Monetarism (system we currently use and is screwing everyone) has dramatically increased the Gini Coefficient and area of the Lorenz Curve.

NOTE: By not embracing Keynesian economics, it may have led to the current movement in the USA to start embracing European style socialism. The obsessive greed of of the wealthy, ironically are creating the circumstances Karl Marx warned about moving from Capitalism to Socialism (just without the violence he said would occur). They are in essence, slitting their own throat.

Almost forgot....your dismissal of Keynesian economics (without truly knowing the history of its lack luster implementation)...understanding of the stimulus spending....you're lack of understanding the difference between debt and deficit, what should be counted as debt and what shouldn't, and lack of complete comprehension of economies of scale in regards to debt, deficit, production, etc.

I suggest you bail before you hurt yourself. No online "news" opinion piece is going to save you. As a former die-hard Monetarist Economist who has seen the error of his ways and embraces Socialism....I can see right through all the RW BS talking points.

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