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Guest Post: Top 10 Keynesian Ways To Boost The US Economy

Tyler Durden's picture




 

Submitted by Jason Kaspar of Goldshark

Top 10 Keynesian Ways to Boost the US Economy

Keynesian economists are propagandizing the media with
a unified message; in one breath lightly touching on the human tragedy
in Japan, while in the next anticipating with delight the economic
recovery it will (supposedly) create. The natural disaster in Japan is
tragic both on a human level and economically. Japan may,
possibly, enjoy a GDP boost in six months or so as a result of some
rebuilding, but the billions in present-day lost productivity will
easily negate any future upside.

The buildings and businesses with billions in loans have (and will
continue to) experience enormous losses. Who will realize these losses? 
Insurance losses – the capital that would be invested in other
productive assets - now must cover billions in claims.  And what about
the economic impact resulting from the loss of nuclear efficiency?
Consider the power situation in Japan over the coming months with 40% of electricity
used in greater Tokyo historically originating from the Niigata and
Fukushima prefectures.  In totality, it is mystifying how any economist
could predict a net economic positive.

But, then again, here come the Keynesians. Perhaps no statement has been more shocking than Larry Kudlow’s callous gem
(he later apologized): "The human toll here looks to be much worse than
the economic toll and we can be grateful for that . . . all these
markets stocks, commodities, oil, gold, there is no major breakout or
breakdown. I have to view that positively." Kudlow's comment may have
been a slip up, but it is one example of many.

There’s Mohammed El-Erian writing in the Financial Times:

“Attention also turns towards the extent of the damage to
the economy and its reconstruction and rehabilitation plans . . .
Japan’s economic growth rate will fall in the immediate aftermath of the
natural disasters before rising sharply due to reconstruction
activities . . . Moreover, in a really good recovery scenario, Friday’s
dreadful shock could even be a catalyst for internal political unity and
for overcoming what has been two disappointing decades of economic
performance.”

Not to be outdone, Goldman Sachs recently issued a report touting the likelihood of a Japanese recovery.

Let’s follow the Keynesian approach. I have come up with
the top ten ways we can boost the US economy using that same Keynesian
rationale.

1. Air Force Bombing Practice

For an entire day the Air Force can carpet bomb our
interstates and highways. Why should Libya get the economic boost? Roads
will be off limits to avoid human casualties (building up productivity
for the lost work, right?) and we can kickstart the construction sector
still reeling from the housing and commercial real estate nightmare.

2. National Food Fight

Let’s take it back to the college caf and have a food
fight. Our processed food tastes terrible anyway. Rules are: any and all
food may be thrown at other Americans, but under no circumstances may
food be preserved. Think of the fun. Sure, our hybrid, pinkish,
crossbred, Monsantified tomatoes aren’t quite as messy as they used to
be, but boy do they hurt more. Anyway, this is America. We have drugs
for that.

3. Public School Fire Day

Every kid wants to burn down his school, right?  (Ok, ok,
besides the homeschoolers.) Well, Keynesian Public School Burning Day is
their chance. It can be a teaching experience for Keynesian economics.
We can invite George W. Bush, so that no child is left behind.

4. Little Rascals Day

We'll give American children a bucket of baseballs and
eight hours to break as many windows as possible - a national event with
no spankings, groundings, or consequences. Let them loose on cars,
houses, whatever. Think of all the fun in the neighborhoods.  Red
houses, blue houses, yellow houses. They could start with the White
House.

5. Political Car Bashing Event

We'll have all senators and state representatives bring
the cars in their household to Washington, where individuals can take
free swings with a baseball bat. Call’em Porsche piñatas. With 100
senators and 435 state representatives, you’d have 1600 vehicles at a
minimum. Besides economic stimulus, the electorate could let off some
steam. It would be better than cash for clunkers – it would be the bash
for flunkers.

6. Skyscraper Demolition

We could just take down the country the old-fashioned way, with a Marlboro and thermite.

7. Cut It Up

Afraid of cutting up credit cards, we can unleash the
fiscally irresponsible on the lackluster retail sector and have them cut
up, chop up, and rip up poor quality Chinese-made clothing that
typically bleeds after one washing anyway. (This plan would actually be a
good idea if all of the clothes manufactured for American Don Juans
weren’t irrevocably produced in Dongguan).

8. The E-Party

We can develop a clay pigeon iphone app and finally give
the gun-totin’ Palin-lovin’ domestic militiamen something to shoot at.
We can call it the E-Party against smartphones. Actually -- this may not
work. Doubtful the drug companies need more stimulus.

9. Bumper Planes

This one might not work either. I was thinking we could
have some destructive fun on the tarmac with Boeings and Airbusses (ya
know, to help boost the economy), but getting through security screeners
would be a radiation hazard, and getting a rubdown from an agent would
be worse.

10. Control-Alt-Delete Day

Now here’s one that will definitely boost the economy. We
can dump the computers of air-head economists into a pool of highly
fluoridated toxic tap water. Biggest splash wins!  Let's begin with Paul
Krugman.

In all seriousness, how can any economist interpret the
tsunami disaster as economically positive without logically supporting
the controlled demolition of the United States? How would the results
not equate? This is the irrationality of Keynesian models. Regardless of
debt levels, inflation levels, natural disasters, inventory gluts, etc.
the answer to economic problems always culminates in further spending.

There can be positives and negatives to spending. During
the Reagan years, the economy was not over leveraged, so spending
created a net positive for growth. But when the economy is over
leveraged (including governments) like it is today, and like it is in
Japan, both destruction and spending can be catastrophic.  When inflation accelerates, further spending becomes the problem and not the solution.

Many economists would laugh off my attempt at sarcasm with
the top ten listed above, but inwardly their economic theories serve to
justify such irrational policies, only they couch their theories under
academic names.  Debt spending can work for awhile….but it cannot work
forever.

 

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Thu, 03/24/2011 - 09:40 | 1094804 youALREADYknow
youALREADYknow's picture

"The buildings and businesses with billions in loans have (and will continue to) experience enormous losses. Who will realize these losses?"

Why the answer is so obvious. The PUBLIC will realize these losses. Thus has been the policy for the last 3 years as private losses are transferred to the public balance sheet.

Thu, 03/24/2011 - 09:54 | 1094866 EscapeKey
EscapeKey's picture

That was the entire point behind the construction of the Federal Reserve. Never again did the founding banks have to accept responsibility for poor investments.

And it's brilliant, too, because if they weren't at liberty to simply print, they would have to increase taxation, which even the most docile, x-factor watching, pizza delivery eating J6P would notice. But money printing, leading to inflation? Nah, they'll just spread confusion around, claming the inflation is due to the entirely new concept of snow falling in January.

Thu, 03/24/2011 - 10:02 | 1094899 Azannoth
Azannoth's picture

Hey let's use a Nuke or HAARP to set of http://en.wikipedia.org/wiki/Cumbre_Vieja

creating a mega-tsunami on the American Atlanic coast, and bask in the 200% GDP surge !

Thu, 03/24/2011 - 10:47 | 1095122 caconhma
caconhma's picture

ZeroHedge appears to be a propaganda tool.

It is disgusting when ZH readers cannot express their approvals of high quality replies of its readers and participants.

Thu, 03/24/2011 - 09:42 | 1094806 John Law Lives
John Law Lives's picture

When will the giant R-E-S-E-T button get pressed?

Thu, 03/24/2011 - 09:41 | 1094807 RingToneDeaf
RingToneDeaf's picture

11. Get rid of this crop of politicians, grow some new ones that serve the people.

Thu, 03/24/2011 - 10:42 | 1095079 Temporalist
Temporalist's picture

You're not just ringtone deaf you're satire/sarcasm oblivious.

 

How about...

11.  Elect more politicians to spend billions on projects that are ultimately abandoned due to lack of funding.

or

12. The 44 million on food stamps get cuts of Kobe beef at $40/oz.

Thu, 03/24/2011 - 09:41 | 1094811 FOC 1183
FOC 1183's picture

Paging Dr. Krugman

Thu, 03/24/2011 - 09:47 | 1094839 Paul Krugman
Paul Krugman's picture

I'm here I'm here. What do you need. I can tell Ben to print some money if you would like.

Thu, 03/24/2011 - 09:48 | 1094847 FOC 1183
FOC 1183's picture

+6 (minutes)

Thu, 03/24/2011 - 09:51 | 1094854 Paul Krugman
Paul Krugman's picture

Well you know I am really busy convincing the world that $1.6 T deficits are a good thing. Its really hard work. Do you know how many bullshit papers I have to write, and all the acceptance speeches for awards take a long time to write.

Thu, 03/24/2011 - 10:04 | 1094895 FOC 1183
FOC 1183's picture

Not to mention that whole "Conscience of a Moron" blog thingy :>

Thu, 03/24/2011 - 10:07 | 1094907 Paul Krugman
Paul Krugman's picture

Yea but that doesn't take much time. Its just delusional ramblings, and attacking straw men that I conjure up for the purpose of satisfying my own stupidity.

Thu, 03/24/2011 - 10:43 | 1095095 Temporalist
Temporalist's picture

I think Krugman's main problem is his fear of impotence and irrelevance.  He can't handle not having an impact and being ignored because he's such a colossal douche.

Thu, 03/24/2011 - 09:55 | 1094873 EscapeKey
EscapeKey's picture

You mean "I can press the red button"?

Thu, 03/24/2011 - 09:42 | 1094816 oogs66
oogs66's picture

Air force bombing practice?  why not have people on the road?  think of the job creation.  asides from having to replace people who are killed or wounded, hospitals will have to staff up as well.  and the unemployment rate would come down as the workforce is reduced

yeah, yeah, tragic loss of life, but think about the good for the survivors

Thu, 03/24/2011 - 09:53 | 1094859 Pants McPants
Pants McPants's picture

Hey WWII solved the unemployment problem....you might be on to something here....

Thu, 03/24/2011 - 09:42 | 1094819 greyghost
greyghost's picture

thanks for the laughs...i needed that!

Thu, 03/24/2011 - 09:46 | 1094820 Mercury
Mercury's picture

The obvious solution here is to just declare war on ourselves.

By executive fiat of course. Having Congress do it is sooo old fashioned.

Thu, 03/24/2011 - 09:46 | 1094833 Battleaxe
Battleaxe's picture

Yeah, the rich could declare war on the working class!

Thu, 03/24/2011 - 09:54 | 1094850 Mercury
Mercury's picture

Well, there would have to be enough working class left over to do the rebuilding (or replacements could be imported I guess) otherwise the Keynesian magic won't happen.

See, central planning just looks easy.  That's why we should leave it to the experts.

Thu, 03/24/2011 - 09:56 | 1094867 Battleaxe
Battleaxe's picture

Yes, import more! (at lower wages of course) And keep the profits in offshore accounts! This sounds good.

Thu, 03/24/2011 - 09:57 | 1094875 EscapeKey
EscapeKey's picture

They are way ahead of you.

Thu, 03/24/2011 - 09:48 | 1094848 Battleaxe
Battleaxe's picture

Oh, they already have? Well, the working class could declare war on the rich!

Thu, 03/24/2011 - 09:58 | 1094863 I Am The Unknow...
I Am The Unknown Comic's picture

Mercury I think you've got it! Obama-rama-lama-ding-dong could issue an executive order declaring war on small business owners....oh, wait...

....hmmm, maybe in order to get the biggest damage induced keynesian bang for the buck he should specify a war on WHITE small business owners....oh, wait....again.....

Thu, 03/24/2011 - 09:58 | 1094878 Mercury
Mercury's picture

Right, and out of that rubble rebuild those destroyed goods and services capabilities with government agencies and bureaucrats...

Thu, 03/24/2011 - 10:05 | 1094904 I Am The Unknow...
I Am The Unknown Comic's picture

As Louie Armstrong might sing (if he were alive today) to Obama et al: 

"...and I think to myself,

what a beautiful progressive keynesian world.....oh, yeah"

Thu, 03/24/2011 - 10:59 | 1095197 Temporalist
Temporalist's picture

"What a wonderful ponzi!"

Thu, 03/24/2011 - 09:43 | 1094824 francis_sawyer
francis_sawyer's picture

How about if we T.P. every house in America with rolls & rolls of that toilet paper that looks like dollar bills???

Oh no wait... The Bernank is already onto that one...

 

Thu, 03/24/2011 - 09:46 | 1094827 Quintus
Quintus's picture

Ah yes.  The 'Broken Window' fallacy writ large.  Do these people never learn?

Thu, 03/24/2011 - 09:58 | 1094880 EscapeKey
EscapeKey's picture

Learn? They profit from the broken windows, so what incentive do they have to "learn"?

Thu, 03/24/2011 - 10:19 | 1094896 Quintus
Quintus's picture

You make an excellent point.

When we observe intelligent people doing apparently stupid things, we can safely assume that there are incentives prompting this behaviour.

Thu, 03/24/2011 - 09:46 | 1094829 silvertrain
silvertrain's picture

Good call, boost the economy by building more bombs and missles..The only thing we have to do is get rid of the old ones first to create a demand...

Thu, 03/24/2011 - 10:03 | 1094901 Battleaxe
Battleaxe's picture

They're working on that.

Thu, 03/24/2011 - 09:45 | 1094832 disabledvet
disabledvet's picture

Little rascals day...i'm all over that one.  seriously though:  obviously they can't.  "this is an actual crisis."  did they "surprise us with a brilliant insight" in response to 2008?  You tell me. I've been "sensing a blatantly obvious pattern" ever since.  Et tu?

Thu, 03/24/2011 - 09:46 | 1094834 Fortunes Favor
Fortunes Favor's picture

Understanding the Government Manipulated Credit Market Evolution @ http://rosenthalcapital.com/blog/2011/03/understanding-the-government-manipulated-credit-market-evolution/

 

Thu, 03/24/2011 - 09:48 | 1094836 Kina
Kina's picture

National House Burning day?

Thu, 03/24/2011 - 10:40 | 1095074 johnQpublic
johnQpublic's picture

national death race 3000 day!

at amphetamine speedway speedway speedway!

where you'll see drug addled drivers racing racing racing!

and crashing crashing crashing!

 

 

oh wait....thats nascar and we have that...

Thu, 03/24/2011 - 09:49 | 1094845 101 years and c...
101 years and counting's picture

this is a no brainer.  just declare spain and italy insolvent.  bail them out will add trillions in freshly created EUR and USD to the crack addicts on wall st.

throw in a UK or Japan, and the markets would flash dash to 15,000 in minutes!

 

 

Thu, 03/24/2011 - 09:53 | 1094852 Oh regional Indian
Oh regional Indian's picture

I think Keynesians call it 

The B-Rockin Win-Dow Phallusy.

ORI

http://aadivaahan.wordpress.com/2011/03/24/lets-start-from-the-very-beginning-a-very-good/

Thu, 03/24/2011 - 09:52 | 1094857 uhb
uhb's picture

we could also give all the keynesians a pair of concrete shoes and dump them in the NY harbour...

Thu, 03/24/2011 - 09:58 | 1094883 Misean
Misean's picture

My favorite so far!

Thu, 03/24/2011 - 11:01 | 1095213 Temporalist
Temporalist's picture

They are trying to clean up those waters not make them cesspools.

Thu, 03/24/2011 - 09:56 | 1094868 Cleanclog
Cleanclog's picture

Group think is often wrong - especially when it thinks positives will come quickly without building in the downside.   As I wrote March 15th Japan will continue to consume and import (particularly lumber, steel, copper, concrete, oil, and food for crops wiped out) - but much of that will be replacing things lost.  Not “growth”.  It won’t have substantial onward production value, it will be getting back to where it was.  


To afford this at a time their revenues will be reduced, debt is already staggeringly high, and the population is aging and stagnant - will mean they will reduce consumption of enjoyment in luxury goods and entertainment.  Hard times will mean hard choices. The Japanese have an ethic and culture that will enable them to sacrifice.  But the rest of the global economy will miss their consumptive contributions in other arenas.

 

And while attention, appropriately, is on the events unfolding in Japan . . .  a window opens for the Archduke Ferdinand moment elsewhere.  Mischief or worse in North Africa or the Arabian Peninsula is possible if Khaddafi  or Saudi rulers think the world is distracted.  http://bit.ly/eVcuJl

Thu, 03/24/2011 - 09:54 | 1094870 A Man without Q...
A Man without Qualities's picture

We don't know what the fuck we are doing or whether it's making things better or worse, but we must inspire confidence in the worker classes, so we'll continue with our strategy and if it doesn't get better, we'll do more...

It reminds me of the doctors who would bleed patients (releasing humours) in order to "cure" illness.  Often, the patient would bleed to death as the doctors would continue the "treatment" if there was no sign of improvement...

Thu, 03/24/2011 - 11:04 | 1095234 Temporalist
Temporalist's picture

I made the same "humors" analogy recently here. 

I think they don't care if it's making things better or worse they make money and create power for themselves either way.

Thu, 03/24/2011 - 09:56 | 1094874 RobotTrader
RobotTrader's picture

As long as gold and silver remain strong, it is probably suicidal to short stocks right now.

Thu, 03/24/2011 - 09:56 | 1094876 Misean
Misean's picture

The Aliens solution: Nuke it from orbit. It's the only way to be sure.

Thu, 03/24/2011 - 09:58 | 1094877 DonnieD
DonnieD's picture

Get our military to level Washington DC. Then we can rebuild it (bullish for CAT) and rearm the military (bullish for GD). Everyone can triple their investment in a week.

Thu, 03/24/2011 - 10:00 | 1094888 Shameful
Shameful's picture

Simple, look who is signing the checks or passing the info to those who speak this dribble.  The Gov wisely owns the economics profession, and most don' have the stones to speak against their employer publicly.  After all if any of us spoke against our employer on national TV it would be a fast way to lose a job.

The theme is the State is all powerful and all knowing and the public should just accept it's words as is spoken by God.

It's funny when you snap someone out of the MSM training.  I'm fond of using the war is good for the economy.  If it was why not declare war on the ocean and drop men and material into the middle of the ocean till economic golden age?  Usually clears up the argument pretty quick.

Thu, 03/24/2011 - 10:27 | 1094985 EscapeKey
EscapeKey's picture

I don't know if the gov't owns the economics profession, I'd say the tax-exempt foundations do, through only sponsoring research and academic papers which agree with their pre-conceived conclusions.

These same foundations, in turn, also sponsor politicians. These politicians have to pick economists; one of which will tell him he can spend forever (the solution is the printing press), and the other tells him to live within his means. I wonder which one he'll pick.

The game is completely stacked in favour of the established powers.

"When the Ottoman Empire fell, two thirds of all real property in its domains was owned by religious foundations. The withdrawal of such property from circulation and from taxation was one of the causes of the Empire's downfall." - Rene A. Wormser, "Foundations, their Power and Influence", pg 18.

Thu, 03/24/2011 - 10:00 | 1094897 Republican Lackey
Republican Lackey's picture

Just unleash the private sector. We saw how well that turned out with TEPCO.

Thu, 03/24/2011 - 10:16 | 1094949 KickIce
KickIce's picture

There were several complaints about the initial design that went unheeded.  The problem is crony capitalism, not capitalism itself.  The founders recognized this and is why they attempted to keep government out of our lives as much as possible.

Thu, 03/24/2011 - 10:23 | 1094988 skipjack
skipjack's picture

Corporations are just another arm of the plutocracy, much as the Dems and Reps are opposite sides of the same damn coin...

Thu, 03/24/2011 - 10:10 | 1094927 KickIce
KickIce's picture

As long as CBs can print money without consequence there should be a boost to GDP.

That being said, the current loss of productivity will be brutal.  Some manufacturers are already complaining about parts.  I would imagine this will also increase the demand for food.  At what point sellers stop refusing to trade currency for food is anyone's guess, but I imagine it is getting increasingly closer.

The nuclear "issue" is far from being resolved.  The war in Libya seems to be a nice diversion for now.

Thu, 03/24/2011 - 10:13 | 1094938 cheesewizz
cheesewizz's picture

 But looka at the bright side...

 



Flood of royal wedding smartphone apps hits market On the go? Smartphone apps help the busy keep up with all aspects of Britain's royal wedding

 

I like that "looka"

Thu, 03/24/2011 - 10:13 | 1094939 PulauHantu29
PulauHantu29's picture

It's bizarre to hear some middle aged, tailored suited Wall Street "experts" smile on TV opining how this disaster is a "positive" for Japan GDP. The next screne shows literally thousands of slowly dying aged Japanese in hospital that have run out of food and medicines, long lines of anxious Japanese mothers with their babies struggling to get radiation-free bottled water...and on and on.

I bet the same man says the Holocosts was a "positive thing" for the Jews.....the slaughter of 300,000 Chinese in Namjing was a "positive thing" for China and that the brtual treatment of slaves was a "positive thing" for America's GDP. How about we fire these people. Surely their dismissal would be a "positive thing" in their lives.

Thu, 03/24/2011 - 10:17 | 1094946 gordengeko
gordengeko's picture

Fuck John Maynard Keynes and all the keynisian inbred bastards.  Keep in mind that anyone who is a student of this eugenic prick is an enemy of you.  Someone should put up an article of where all of these systems stem...let me sum it up...ENGLAND.  Who's ass did we kick out of this country and told their king to fuck off?  Who was made a laughing stock of the world when the little old small country of the US beat down the brits and sent them back to their oligarchic plutocracy back in ENGLAND?  Do you think he held a little grudge against those US folk?  You think he discovered the only way to defeat the US was through subversion and installation of these 'systems' from 'within'.  Law, education, courts... it all comes from ENGLAND.  Indoctrinate the youth into these systems, bring them up with constant bombardment of media and tv propaganda thus demoralizing any aspect of what values were left in this country and you have won.  Who is your enemy again? 

Also, when I say England, it's not the people of England its the elitist eugenic oligarchs that control this planet.

Thu, 03/24/2011 - 10:21 | 1094974 Azannoth
Azannoth's picture

Eugenics is a very positive thing when done properly, don't mix what Hollywood told u about eugenics with real science

Thu, 03/24/2011 - 10:33 | 1095038 gordengeko
gordengeko's picture

Fuck off, one thing these inbreds forget is that there is a Universal Godforce that permeates throughout wnd within everything.  Everything will be dealt with in due time my friend.

Thu, 03/24/2011 - 10:49 | 1095135 ebworthen
ebworthen's picture

As long as I'm in charge of the turkey baster.

Thu, 03/24/2011 - 10:22 | 1094950 TruthInSunshine
TruthInSunshine's picture

11.    Declare feces as legal tender:   Everyone poops, right?  And what's a better 'virtuous circle' than having people spend their hard earned feces on lots and lots of purchases such as $5 hot & ready pizzas or foot long submarines, then later being able to shat out potentially more than the $5 they ingested in currency?

 

This will be stimulative, and for those that are what Freud would have deemed regressive, stimulating, as well.

 

This would end silly economic arguments about money supply, and make M No. 2 top dog.

 

Forget about ending inflation, and think of ending constipation. And it's Paul Krugman approved!

Thu, 03/24/2011 - 11:08 | 1095264 Temporalist
Temporalist's picture

But you can't eat it...unless you're a kleptocrat.

Thu, 03/24/2011 - 10:17 | 1094953 Battleaxe
Battleaxe's picture

Most of these ideas have already been tried in Detroit.

Thu, 03/24/2011 - 10:37 | 1095031 ebworthen
ebworthen's picture

Teach optimism in the face of bad choices.

Teach moral certitude after committing immorality on others.

Teach sophistry, the art of B.S., and how to smile so someone believes you.

Teach management of perceptions so that tradegies are opportunities to employ blind optimism, immorality, and sophistic B.S. on other people to make $$$$.

(well taught starting in K-12 and into college and MBA programs in the U.S.A.)

Thu, 03/24/2011 - 10:33 | 1095034 jpmorrisaggie
jpmorrisaggie's picture

The worse things the get the worse the lies and sugar coating gets.  At least Livermore lived in a somewhat rational world where the stock market crashed after the San Fransisco earthquake in 1906

Thu, 03/24/2011 - 10:35 | 1095052 TruthInSunshine
TruthInSunshine's picture

And even then, he ended up blowing his brains out.

Imagine what he would have done if he had only sampled this shit...

Thu, 03/24/2011 - 10:48 | 1095119 jpmorrisaggie
jpmorrisaggie's picture

Haha, he probably would have made it halfway through Bernankes "green shoots" speech in 2009 and been ready for the afterlife.

Thu, 03/24/2011 - 10:39 | 1095072 DaveyJones
DaveyJones's picture

don't forget to leave the lights on to help the energy crisis

Thu, 03/24/2011 - 10:41 | 1095078 Sinatra_98
Sinatra_98's picture

Hey...#1 is a two-fer.

Parts and labor to replace all those bombs would

be a economic positive, too!

Thu, 03/24/2011 - 10:55 | 1095168 ebworthen
ebworthen's picture

Yes, I heard this logic from a commentator regarding the cost to the taxpayer of 110 tomahawk missles shot into Libya - would provide work at home to replace the inventory.

Thu, 03/24/2011 - 10:42 | 1095081 ebworthen
ebworthen's picture

Cue Monty Python:  "Always look on the Bright Side"

http://www.youtube.com/watch?v=WlBiLNN1NhQ

Thu, 03/24/2011 - 10:45 | 1095092 richard in norway
richard in norway's picture

very funny piece, but you know that the great man if he was alive today would kick these so called economists in the goolies. they are not preaching keynesianism, it might be an upside down version. but without capital controls there is no keynesianism. these guy are like those folks that go killing in the name of Christ

Thu, 03/24/2011 - 13:07 | 1095803 malek
malek's picture

Don't defend that douchebag Keynes.

If you want to see how Keynes would act if he were alive, take a look at Paul Krugman. A very intelligent guy who understands what's going on, but has evolved into telling only half truths in every speech and commentary (you CAN get the full picture if you carefully dissect all of his blabber), as he figured he has to serve some group of politicians to make some real money and become famous. Just like Keynes in his later years.

Thu, 03/24/2011 - 15:11 | 1096320 dexter_morgan
dexter_morgan's picture

+

Thu, 03/24/2011 - 21:26 | 1097805 penisouraus erecti
penisouraus erecti's picture

Give the man his props - once people figured out  he created the greatest wealth transfer mechanism known to man they can't get enough of it - problem is it's mainly transferred upwards to the wealthy criminal element types.

Thu, 03/24/2011 - 10:51 | 1095157 SilverBaron
SilverBaron's picture

Alright, who the fuck leaked the plan to these guys?

Thu, 03/24/2011 - 11:57 | 1095489 Catullus
Catullus's picture

You're not a true Keynesian unless you own one pair of underwear and are constantly fully employing it

Thu, 03/24/2011 - 12:23 | 1095605 Highrev
Highrev's picture

We could even get the job done without spending money on bombs. All we'd need to do is ask for a volunteer coalition from the rest of the world! Do you think there'd be any second thinking on their parts to bomb the U.S.A.? Oops, on the other hand, when keeping in mind the fantastic economic boom that would mean for the U.S., perhaps not.

Thu, 03/24/2011 - 12:45 | 1095708 TuffsNotEnuff
TuffsNotEnuff's picture

A systemic Balance Sheet Recession is the one type of economic cycle where Keynesian actions are indicated. Google [ koo holy grail ] for the technical work.

Surprised the know-nothings here aren't guffawing about the Japanese tsunami.

Thu, 03/24/2011 - 13:43 | 1095999 Bicycle Repairman
Bicycle Repairman's picture

Why pick on Keynes?  A Malthusian list would be more fun.  I'll start:

1. Kill 5 billion people (not including me.)

Who's next?

/sarc

Thu, 03/24/2011 - 14:22 | 1096176 dexter_morgan
dexter_morgan's picture

Seems the gulf disaster would have been more of a stimulus. Maybe combined with a large New Madrid fault earthquake we could get some serious recovery going here.

Thu, 03/24/2011 - 14:34 | 1096196 Battleaxe
Battleaxe's picture

Yeah, things would be a lot worse if it wasn't for 911, Iraq War, Afghan War, Indonesian Tsunami, Bombay Bombings, Haiti quake, BP oil spill, Chile quake, New Zealand quake, Japan quake, Libyan no fly zone ...

Thank the lord for all this destruction and bloodshed or who knows WHERE this economy would be.

Larry Kudlow is right.

Thu, 03/24/2011 - 14:32 | 1096198 DavidC
DavidC's picture

"In all seriousness, how can any economist interpret the tsunami disaster as economically positive without logically supporting the controlled demolition of the United States?"

I thought it had already started on 9/11...

DavidC

Thu, 03/24/2011 - 16:32 | 1096733 paleofartus
paleofartus's picture

Didn't the Marx Brothers do a movie about this?

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