The problem with Keynesian economics is that it behaves exactly as the Second Law of Thermodynamics, maximizing the entropy of the [financial] system until everyone has an infinitely small share – but it generates no wealth and creates nothing.
What happened to America? Once a ‘can do’ nation who knew how to make a dollar and create wealth but now degenerated to a simpering bunch of redistributors.
How’s those slogans working out for you? Wreck the economy by forcing the provision of loans to those who could not possibly repay? Yes we did! Drive down interest rates and profit incentive to the point where investing is a pointless risk? Yes we did! Flood the economy with Mickey Mouse money to devalue the once-mighty dollar? Yes we did!
Unleash capitalism and get out of the way, ya dopey blighters!
A Fifth Keynesian ‘Stimulus’?
The concept of a Keynesian stimulus never seems to tire among politicians eager to grow the economy artificially by spending other people’s money. (The Foundry)
O’Reilly, O’Bama, and the O’Conomy
…or, It’s Not About Money…It’s Our Standard of Living
I just endured a rather inane discussion on the O’Reilly Factor with actor/pundit Wayne Rogers and economist/comedian/actor/pundit Ben Stein, over whether President Obama helps or hurts the economy. (Roy W. Spencer)