Last Words of John Maynard Keynes
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@Tokopol Yeah, Keynes wouldn't approve of how economists today have extrapolated from his original idea. Its used today like a license to kill. On the monetary side he probably was wrong in some of his assumptions, though. Fiscally he was right except he didn't account for drunken politicians. Maybe we could save in a down time and use that money in a recession.
tadaa11 2 months ago
@Tokopol It's called wartime.. Secondly, there was a bubble.. I cannot explain it to you in a way that you would understand.. So that is the simplest I can explain it to you..
SuperGuitarman69 3 months ago
Redistribution never grew an economy, only made it worse. Why do you think the "great depression" was so "great"? Between protectionist trade rules and taking from the economy to give to those not participating in it, only continued the economic downward spiral. Henry Morganthau, FDR's secretary commented on how they kept throwing money at it didn't make it any better. As soon as the job progam was completed, they we're right back to where they started. (It's called a false economy).
179178 3 months ago
@SuperGuitarman69 What the hell does your degree in economics have to do with it? It's simple math. During an economic boom, the government's receipts exceeded expenditures. During the same boom, a succeeding administration changed things so that expenditures exceeded receipts.
Tokopol 3 months ago
@Tokopol There was NO surplus.. I have a degree in economics.. In our economy we print money, the only time you can have growth is when you produce.. We didn't have surplus we had a bubble.. Truth is truth..
SuperGuitarman69 3 months ago
@SuperGuitarman69 The context of that was that he didn't want to see his theory used in boom times. The whole premise was that you remained austere and built a surplus during a boom period, and used the surplus for intervention during the inevitable bust period.
Of course, that's sort of hard to follow when a previous administration makes an existing surplus evaporate...
Tokopol 3 months ago
@Tokopol No he didn't but one of his last interviews he stated that he didn't want to see his economic theory to be used after the 30's
SuperGuitarman69 3 months ago
@SuperGuitarman69 Quit huffing fumes, buddy. That never happened.
Tokopol 3 months ago
Those weren't his last words.. His last words were, "my ideas will crumble America, stop this madness before it is too late." Only leftists were at his bedside and they agreed that if they were to take down America (as they are doing) they cannot let what he said get out..
SuperGuitarman69 3 months ago
he truly said this!
diogotomediogo 3 months ago