Watch Obama Explain Why Keynesianism Has Been A Failure

Tyler Durden's picture

Watch the teleprompter advise the president on the correct choice of words at his address to workers at a Fiat, pardon Chrysler Group, Toledo supplier park, during which he will have to explain why both fiscal and monetary policy (read Keynesianism) is now a confirmed failure. But far from Austrian economics finally get the respect it so much deserves, this will merely retrench the current idiotic policies - just read any column by Krugman demand doubling down on stimulus post haste: that's what happens with junkies - it never ends, and in fact the "last" does must always be more and more and more...

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camoes's picture

You can see him here as well! He's been working out...

IdioTsincracY's picture

Keynesianism has failed! .... great!

Reaganomics was bull shit!!

Trickle down economics was even moooore bull shit!

Socialism only existed as welfare for the rich!!

Natural economics is an oxymoron!!

So  .... what is left? What should we try next?!

Peak Everything's picture

Ummm, how about we live within our means?

Ooops sorry, too late, that would have worked in 1980. We are so far beyond our means (and our means are in decline) that the best plan is to not have kids. This will avoid them having to suffer and will help reduce pain for the remaining people.

Bob Sacamano's picture

Yes, the rising tax revenues in the face of tax cuts is indeed staggering.  Seems clear spending was and is the primary problem - always has been a problem with government.

southsea13's picture

A good point; unfortunately when I tried living within my means (quite successfully, I thought: no debt, no mofos ringing me up day and night, no bailiffs` letters etc) , my `friends`  - who needs enemies, right? -  complained about my being `tight` as they chucked their dosh on overpriced eating out, moving coffins like the Mazda Mx-5 and so on. I`m with you on the not having kids thing, this linky may be of interest:

mnevins2's picture

@ss13. Interesting link - one frequently confirmed by my wife and I as we observe that "the apple doesn't fall from the tree" with the kids and parents in town/social circles.  FWIW, we were also quite frequently criticized for being "cheap" and "frugal" and "miserly."  We take little pleasure in the struggling of others today, but are aware that much of their present condition was self-induced.  Our teen kids?  They've always worked and that made them semi-rare amongst their peers.  They get it, though - unlike our elected "leaders" who are just as lost today as ever before.

southsea13's picture

@mnevins2: The binge of readily-available credit has dried up, but somehow people are still buying crud like Ipads and whatever toys they can get their hands on. I`ve always tried to take the view that if you want something, then save for it. 

Our `leaders` are just chumps, and it seems that whoever is in power is going to be a disappointment, or, at least, fail to live up to over-optimistic expectations (e.g the ability to be able to run a country with the national interest at heart). In the UK we`ve got cut after cut after cut coming and slowing up the economy in a race-to-the-bottom austerity doctrine. Obama seems like he doesn`t know what he`s doing at all, and the round of wars we`ve seen (and are still seeing), just makes things worse. 

Bob Sacamano's picture

Appreciate the above comments. 

Living within / below means is a big part of the issue.  But it does require discipline and personal responsibility -- which is in very short supply.  Many seem to feel entitled and / or a victim of some sort and are most comfortable calling on others (government) to solve their problems -- many of which are self inflicted. 

BigJim's picture

I believe Bastiat said something along the lines of: "Government is the belief that we can all get rich picking each other's pockets" - there's the problem right there. A grants B power when B promises to take money from C and give it to A.

CEOoftheSOFA's picture

During so-called "Reganomics" the federal debt was quadrupled.  So how was that different than what we are doing today?

LaLiLuLeLo's picture

When is China pulling the plug? This shit is getting annoying now

Instant Karma's picture

It finally occured to me: Obama is a Sociopath. The coldness. Distance. The harshness toward critics. The dictatorial nature. Classic. 

trav7777's picture

little slow on the uptake, huh?

WeeWilly's picture

More of a narcissist methinks...

HistorySquared's picture

Superbama saved the world!

slaughterer's picture

Fuck, this idiot has no chance in 2012.  

kaa1016's picture

He's got a great chance due to the idiots on the other side.

Hugh G Rection's picture

He was born in Keynesia, his presidency is unconstitutional, not that the constitution matters anymore.  TSA----4th amendment what?  Libya---- War Powers Act? Who gives a fuck. Congress alone coining money? That's so pre 1913.


Now bend over and take more change.

Bob's picture

Did you see his delivery as remarkably weak?  I can hardly blame the Publicons for cornholing him at times like this.  What a punk. 

What a show.  Bring on the other clowns.

I've got the corporate media on, all the time.  What other Real Media is there, after all? 

Surely the only news that matters is politicians.  Now we got Anthony's Weiner-or-not and Edwards' scam . . . must be the most important things, I guess.  After Caylee and the local dog story. 

I'm wondering if the political class might be experiencing a massive Spitzer-izing.  We wouldn't give a shit, but the news says it's all what matters.  Funny how we never get around to deeper shit at all . . .

Hugh G Rection's picture

Back in my neocon days I watched faux news religiously.  Never thought I would have to go on youtube to get real news.  I really like RT and infowars.


More shenanigans from the $10/hr tyrants at the TSA.

morty_schatzberg's picture

yep, fox and msnbc, like the republicrats, are a false dichotomy. you got to hand it to em.

they know how to host a good puppet show. 

Bob's picture

Yeah, you mock those assholes for the wages they submit to, but . . .

Yeah, I do too.  Imagine that level of ignominy.  I wish I could afford to fly more--I just can't restrain myself in those kinds of situations. 

WTF is up with the flying American public, anyway?

Suck-ups or somethin' ? 

Just sayin


ReallySparky's picture

I flew last weekend.  What a freaking circus.  What was most disconcerting was the way every TSA agent went out of their way to be friendly and talkative to children.  I imagine that they have received special training on, " how to calm the fears of little ones and indoctrinate them that all is well".  I refuse to go though the full body scanner.  So every time one of the TSA rainbow collar wearing dyke's has to pat me down.  Honestly, I would prefer a man do it.   I fully make it know to them what a farce this is and that they have a choice to work somewhere else.  One of the TSA queens in Miami says, "well the only way you will avoid this is to get your own plane".  So I say to her, "wow that sounds real fair and just, If I spend my money on my own plane than I am exempt from this violation of my rights?"  "I guess that all men really are created equal then."  She had no comeback for that.  For a second I thought I saw a glimmer of independent thought breeze though her head, but alas, while walking away she asks her supervisor if she can take her break.  The whole thing is such a joke.  And the fools that work at TSA are creepy.

southsea13's picture

Do not give up! I`m not going to try and suggest that anyone take the kind of risks that got Socrates into the hemlock kool-aid thing, but questioning these chumps may be the best way to get some independent thought going. Seems to me that there`s a nasty Muslim hiding somewhere in the airport queue waiting to self-detonate in the minds of these people, and they`ve swallowed the hype hook ,line and sinker. :(

Even if one hired henchperson gets his or her synapses going, that`s a start. :)


Joe Davola's picture

It's like a reality show, only realer.  And everyone know that nothing's contrived on those reality shows.

Bob's picture

succinct.  all we have to do is breathe "right" and everything will be just fine.  we'll live.  if america's business is business, how come the news has almost nothing to do with business?  shit, it's owned by business, after all.  wtf.

Concentrated power has always been the enemy of liberty.'s picture

3 junks and no comments.  You wankers that are junking Mr. Rection should post an original thought. 


The prez is a disgrace.

dark pools of soros's picture

disgrace?? depends on who's view?  obviously you are part of the view that doesn't matter

Wall Street's view is quite different

Moe Howard's picture

I didn't junk you, I don't understand who would unless Chewbacca - I mean Giant Ass, I mean the first lady Meeeeshelll, did it, but who did the other three?

Iriestx's picture

Versus a mormon that implemented a much more socialist healthcare program the last time he was an elected official?

Or against the reality TV star that quit her governorship to hock her ghostwritten novels?

Maybe the Pizza CEO playing the part of the token black?

Or the miluqtoast ultra-socially conservative bible thump?

The GOP and Fox News won't let Ron Paul or Gary Johnson win the nomination, so that point is moot.

While I detest Obama with the fire of a thousands suns, the people the republicans are lining up are no better (outside of Paul and Johnson) and have no chance.


DaveyJones's picture

it's almost as if both parties...don't work for us anymore

trav7777's picture

the party system works like this. 

Party A puts out a bunch of shit in the primaries.  Their nominee becomes shit.

Party B does the same thing or has the incumbent.

You end up with an election between dogshit and horseshit.

And people actually cheer and lock themselves into this false dilemma.

dark pools of soros's picture

yes and the cabinet and other positions seem to shuffle the same paid turds around regardless who's in the top seat

BigJim's picture

It's almost like it's planned this way.

Cathartes Aura's picture

this is the point when the reality of electing a "figurehead" becomes blatantly obvious to you, when you realise it's a tragicomedy designed for distraction, when you stop seeing "reality" as a TeeVee show you can switch the channels(figureheads) on, when you chuck the TV. . . & just stop voting.

dark pools of soros's picture

and...  convert everyone to using local time banks to avoid fiat and certain taxes entirely 


barter is the money of the poor..  well let's rise past slaves to serf as a first step

kaa1016's picture

Exactly. When will people realize that everything they get fed day in and day out is all bullshit. Very few have a real grasp on the real economic issues in the country. Dems and Repubs, again it's all bullshit. We just went through a gigantic credit bust. There is nothing that the government can do to stop this whole thing from falling apart. Everything that they have done, going back to Bush, remember TARP and the other "emergency tools", have either delayed the inevitable or made the eventual deflationary bust much worse. If people tune out the noise, I mean news and the politico's, they would be a lot better off.

Iriestx's picture

That which does not kill you only delays the inevitable.



Bob's picture

It's time for a systemic reset.  The old language/system didn't work so good

Wynn's picture

The law of cause and effect settles all scores.

karzai_luver's picture

That which does not kill you (is only transitory).

Must follow the talking points of the day, dear comrade!:)

only delays the inevitable.

Hephasteus's picture

Oddly enough what finally killed off the roman empire may finally kill off the amercian empire. They started boiling grape juice to reduce it and adding it to wine it was acidic so it developed copper acetate so they switched to lead. Now taking lead out of everything is doing us in.

I just read through all the electronics failures the DOD has had since the stated the Restriction On Hazardous Subsances ROHS compliance that tries to remove lead from stuff.

They got a burnt out relay from a nuclear power plant that developed tin whiskers. A laundry list of dead satellites and tin whiskers in everything causing shorts and problems and a really bad silver addiction.


kito's picture

yes im sure nit-wit-mitt is the savior. face it, he will win becuase the other side of the oligarchy will have only clowns to offer

Problem Is's picture

"Fuck, this idiot has no chance in 2012."

Obama Bin Liyin's $1 Billion in Wall Street campaign

And a propagandized idiot Amerikan public watching campaign commericals on CNBC who can't think their way out of a McD's bag...

Say otherwise...

Bob's picture

For all that it matters, it's interesting the spotlight is being shone on politicians.  The most coherent message I can gather from the corporate media narrative is that the mutha fuckin people corporations bought need to take some serious lashings.  And then get paid. 

Somebody's gotta do it!  And it sure ain't gonna be the Boss. 

The more I think about this, the more I commit to taxing the fuck out of the Boss.  It grieves me that innocent people will get hit that way, but when you look at the numbers . . . count it as being in the wrong place at the wrong time, understanding the larger situation!  We're sorry!

I think we should put the fucking banksters and their various criminal minions and sychophants in prison where they belong, but surely taxation is not that hard to get done?

If it is, we're totally fucked. 

phungus_mungus's picture

Perhaps, but never underestimate the power of stupid people in large crowds... that's how we ended up with this clown in the first place...