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Post by Sir John on Jan 2, 2013 16:51:45 GMT -5
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Post by Swampy on Jan 2, 2013 22:00:42 GMT -5
Japan did not follow with the brutal reforms needed to jump-start its economy. Furthermore, without Keynesian spending in 2008, the world would be bankrupt by now.
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Post by Sir John on Jan 2, 2013 22:24:17 GMT -5
Swampy,
the world IS bankrupt!
Anyway, that wasn't "Keynesian spending", it was an injection of BORROWED money to help solve a borrowed and bad money problem.
JMK would be turning in his grave.
SJ
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Post by Swampy on Jan 2, 2013 23:36:03 GMT -5
Well, my Australian Austrian, Keynes would not have objected to deficit spending, so long as it was complemented by cutbacks in good times. Of course, the problem is governments never cut back. Are you an Australian Austrian or an Austrian Australian?  |
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Post by Swampy on Jan 8, 2013 1:45:39 GMT -5
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Post by Sir John on Jan 8, 2013 2:12:20 GMT -5
The IMF is about on a par with the IPCC.
SJ
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Post by Swampy on Jan 8, 2013 11:13:00 GMT -5
The IMF is about on a par with the IPCC. I'm not so sure about that, but we'll leave that interesting debate for another thread. Meanwhile, cutbacks by the US government are holding back to economy, because reducing payrolls has led to people with less money to spend. The US should cut its deficit, but, as any Keynesian would know, that will also hurt the economy in the short term. |
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Post by Sir John on Jan 8, 2013 17:27:27 GMT -5
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Post by Swampy on Jan 8, 2013 18:23:43 GMT -5
Scroll up, my Austrian Australian - I said the IMF conceded it was wrong to reject Keynes. |
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Post by Swampy on Jan 9, 2013 23:44:03 GMT -5
All right, Sir John von Hayek, here's an article by a Canadian economics professor as to why 2013 would be better - he gives two reasons, one Keynesian and one Hayekian. Actually, the professor would make a good politician - or a lawyer. |
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Post by Sir John on Jan 10, 2013 0:01:42 GMT -5
Sorry Swampy, but that was a very shallow observation of the current world situation. More a essay on human psychology, not basic economics.
Hardly a word on crippling debt, and uncontrolled budget deficits, and unemployment, out of control pensions, free this and free that, and GDP slumps and so on.
Just a bit on housing prices and markets and that is about it.
Sorry, 49/100 and i am in a good mood.
SJ
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Post by Swampy on Jan 10, 2013 10:56:06 GMT -5
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Post by Sir John on Jan 10, 2013 18:09:53 GMT -5
Swampy,
Did Bill Gates write out a cheque for the zillions of debt these states and cities hold?
SJ
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