Keynesian economics

Good evening, all.

 
I’m forwarding a link to this American article not because I am for it nor agin it, but for background to US undercurrents of which Canadians should be aware.
 
F.

 
The article says:
 
“So much for Keynesian pump-priming.”
 
It ‘s a little difficult to learn from the context whether the writer is saying Keynesian economics is good or bad, or good but wrongly applied, or something else.
 
However, while Keynes said a lot of things, what most people mean when they cite him is that he said governments should save in the good times and spend in the bad (see the Book of Genesis, where Joseph gave that exact advice to Pharaoh).
 
Trouble is that, as so often, governments get it exactly backwards:  They can’t resist spending like mad in the good times and contracting like mad in the bad, which makes the situation worse, not better.
 
It’s a flawless demo of Gue’s 180 degree syndrome: identify a sound principle of economics, education, etc. and you will likely find that  the government bureau concerned has applied it backward.  Example from EducationEducators scorn rote learning, when in fact, to quote an old Scientific American article, “Every human accomplishment springs from a platform of rote learning.”
 
Keynesian economics is a lot like Christianity; only one guy ever tried it, and you know what happened to Him.
 
Cheers,
 
F.
 
More proof that Barak Hussein Obomba. who hijacked the Democratic Party, is
creating a POLICE STATE in America!!
 
Fast & Furious
Fort Hood Islamic Political Correctness
Benghazi
Illegal immigration & Obombacare
Keystone XL Pipeline
Exploding Food Stamps
Record increase in Disabled Americans
Nearly 50% no longer pay income tax
Sequestration??
AP phone records scandal
IRS (Schulman’s 150+ visits to White House)
NSA & VERISON
PRISIM
 
READ Larry Kudlow’s article which shows more proof that Obomba gets a ZERO grade when understanding productive economics
for real economic growth…….GMac 
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