Originally Posted by
gloopy
You mean required components of crony capitalism/corportism where you magically print money and banks can loan out the same dollar 10 different times, at the same time, as long as everything magically grows and the music never stops. Then the banks can charge 10X the interest and command more principal and interest than exists, so the process grows politically to feed itself until it collapses. Look at our debt, it isn't working. Most economists are Keynesians by default, and all, 100%, Keynesians are idiots. No exception.
Might as well do my part in hijacking this thread...
You are spot on. Those who think voting out the incumbent in the upcoming election are replacing one Keynesian with another in a different wrapper. Read Hayek or Von Mises from the Austrian school of economics. It's as much fun as reading Stephen Hawking but just as fundamentally sound. One prez candidate has it right but is unfairly and incorrectly derided as a loony. Watch him grill Bernanke in some of the Fed hearings - in fact YouTube it. Not as much fun as watching Kim and Chloe but if anyone gives a poo about monetary policy and stopping the fiscal bleeding in the U.S. then it's a good watch.