Keynesian Economics 101 (In 4 'Simple' Lessons)
Since Keynesian economics has reined supreme among mainstream economists for decades, you might want to know some of the basics.
If this is confusing to you though, don’t worry about it! There are people in charge who have it all under control.
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Keynesian economics is not economics.
Richard Fisher admits stock markets are FAKE and that they have been "juiced" by the central banks' currency print fest. It's all FAKE!! https://www.youtube.com/watch?v=pnIYZiWlaUY
It's good to see Richard Fisher has finally caught up with the rest of us......
Keynesian economics: Just keep taking out new credit cards and everything will be great.
"Keynesian economics" is an oxymoron, right up there with such classics as "military intelligence," "rational liberal," or "compassionate conservative."
Modern 'Keynesian economics' doesn't even follow what the old boy actually said. Total horseshit.
Keynes was wrong on so many issues and levels. That said these graphics don't represent Keynesian thinking at all. Keynes is all about Aggregate Demand and the relationship to unemployment, he barely considered GDP as an objective but saw it as an outcome in the 'fight against unemployment'. Since his policies were fiscal, how does cartoon #1 work, at all? This is just propaganda for consumption by the uninformed and hard of thinking.
I have to disagree. Conservatives are the MOST compassionate. With what we put up with "Our love is vengence that's never freed."
We're the brains behind what was the best society on the small scale ever. I'm not including the liberal puppet masters who control Wall St and the Banksters. They are liberals.
I'd say he was ahead, unless you have more than a million in Au.
http://money.cnn.com/2013/08/28/news/economy/federal-reserve-wealth/
Now he's laughing.
It is more like cornered into it. Interest rates are zero. You can save a million dollars and get about 60 bucks interest for the year. Historically, you should get roughly $50k per year and you could live on that.
Most people are relatively simple. They will save moeny in some interest bearing method like CD's or bonds and hope their house appreciates as they pay it off. They are not going to to futures, swaps, or shorts or anything comuplicated.
Housing is likely in another bubble and there are no great interest rates to be had with a reasonably low risk. This crushes the middle class.
Maybe someone should send this article to the PBOC.... Hilarious what just happened:
01.05 21:00 ET BREAKING NEWS: China Blinks, Rescinds Order Allowing Large Equity Bloc Trading on 01.09Fuck it I need a lude now.
Just the one??
And a Diladid #4 with a Fireball chaser, just what the doctor ordered!
Ooooh, you had to add the Fireball didn't you? That stuff is about as evil Keynesiansim.
If you don't need to 'self-medicate' you are not watching closely enough!
Go carefully.
Iff you want to self-medicate, try yoga. It's what keeps me sane...
...it's also what keeps me upright.
;-)
I self (burrrrp)medicate every night and I'm the same cool person as I used to be.
I have never exhaled.
Besides, I've yet to find anyone more qualified.
Settle down, Bill.
that info graphic DOES NOT describe Keynesian economics. It describes the crap situation that we now have that the media and some pundits label as keynesian. Cause Keynes said to SAVE DUIRNG GOOD TIMES and spend that savings during bad times.
Just like right now, we do NOT have capitalism, we have a combo of socialism, fascism and crony capitalism NOT the free markets that some like to say don't work.
We have Utopia. Open your eyes man.....
Fine print is never followed.
Why do you think they call it fine print....?
Except that no Keynesian has ever said, "The economy is doing great, we need to run budget surpluses now." It wouldn't work anyway, because Keynes fundamentally misunderstood what business cycles actually are. No matter how you got the money (saving, borrowing, or printing) it would be stupid to pay people to keep doing whatever they were already doing "until the economy recovers" -- you'd just worsen the glut of whatever they were making too much of.
Its financial terrorism, actually.
"Keynesian economics is not economics."
Dat's almost rayciss, sayin dat about Kenyan exonomics! Tyler, I demand a Safe Zone area on ZH.
I don't think 'Keynesian economics', as it is practised, is economics that Keynes would even recognise, and I'm no fan of Keynesianism.
DavidC
Lesson 5: The Unicorns will take care of the rest.
Blindly following as instructed. Wake me when the unicorns arrive and I hit the Keynesian lottery.
On another note, can you say "Simple Pump"?
What they really need is a good old fashioned attack by Martians!
Who doesn't?
Them some fine dogmas ya got there. Mind if I take them for walk?
I'm sure there's a twisted world out there where Keynesian economics actually works and convinces almost everyone that it's bringing them untold prosperity. Oh wait...
In a galaxy far, far away......
There's a rainbow, what's not to like.......?
The rain?
confucius say rain is over when see rainbow
I guess he didn't know what he was talking about, at least, regarding rain and rainbows.
He was right about fans and shit, though. We will see it ourselves, soon.
An Austrian economist and a Keynesian economist walk into a bar...
The Keynesian asks for a drink on credit, then proceeds to drink himself to death.
The Austrian asks for a drink, pays for his drink and drinks his drink, then he gets up to leave.
Bartender says to Austrian, "Hey what about your buddy's tab?"
Austrian to the bartender, "He's your buddy now."
No one from Princeton or Haaahvaaahd will ever get that.
Its over their head ;-)
Probably because they are either passed out or dead under the table. :-)
You can always tell a Harvard* Man, but you can't tell him much.
* substitute Ivy League School of your chioce.
https://www.google.com/imgres?imgurl=http://izquotes.com/quotes-pictures...
Keynes never said to run up a debt that you couldn't pay back. he said to lay by in store during the good times, spend that savings in bad times and IF NECESSARY, go into debt. But when thngs turned around, pay off the debt and start saving again. Politicians only do the spending part cause they can us it to buy votes and forget the other half of what Keynes said.
Funny you would try to defend this pedophile socialist who was wrong about sooo much. Got barbaric relics?
Spend less than you earn.
Find a way to store the rest.
Keynes was a Fabian socialist, the record is pretty clear.
I'm still waiting for the "good times".
Should they have preceded or followed the bad times?
Which came first chick'n or egg?