Keynes argued that government spending could be used to directly increase means of production. Clearly, this worked in World War II America and the subsequent post-war boom. Keynes was horrified at other aspects of the Roosevelt administration's policies as he would be today by the liberal idea that "any government spending" stimulates the economy.

LOL

Karl Marx used that "logic" too.

And based on their actions, calling a politician a son of a bitch, is actually a compliment, since most bitches have far more honor than most politicians.

Kudos to whomever upvoted my post about priming the pump, a policy most people here disagree with.

I see your point and I like the "bite themselves in the ass" analogy.

Most corporatists and fascists love Krugman. He is a model of why big governments get much bigger.

His reasoning is nearly as fallacious as the theory that there is only so much value of pie out there and if one person earns a slice of it, that prevents another person from getting their slice.

Sorry about that.

I thought it was rather apt since when they lose their minds and start freaking out they tend to bite themselves in the ass....much as Krugman's arguments do.

"...and your time is running out."
Francisco D'Anconia

Cheers

I Can fill my pool up by taking water from the deep end and pouring it in the shallow one... :)

Yes indeed.

and Sowell's book on Economics

That's an insult to Pomeranians, even insane ones, who are only acting on their instincts and have no way of knowing better.

Give them Bastiat and Hazlitt when they hit 13 or so and they'll figure it out quickly enough.

Not to mention putting Paul Krugman on the attack to gnaw at your ankles like an insane pomeranian

Did Keynes even believe his own tripe?
It is quite clear that the goal of the Federal Reserve system was to obfuscate their systematic looting.

A good example is base line budgeting. A little trick the government has been pulling for lo, these many years. It is actually a simplistic con game that past trust has allowed government to get away with. When we are told that we have cut the budget in any given area, by say, 15% or that we are no longer funding a certain part of the budget, what you're not being told is that the figures you are getting are those which are over the base line. What is the base line? That's the amount spent on that item in the last budget.
So -- it works like this: Last year we spent $150 (million-billion it doesn't matter). This year we had a decrease of 50% to 75. But what they fail to mention is that they retain a "base line" of 150, so that this year's budget is actually 150 + 75, or 225. Not a decrease, but an increase! No matter what you call it, it's a lie. They all know it, regardless of party, philosophy, or ethical pronouncements. But, wait! If that is true, what other folderol is the government feeding us? Not being a denizen of the labyrinth called Washington, I couldn't begin to tell you. As of now, our government rests its firm foundation of economic stability on.....nothing at all. It's an upside down pyramid and most of us are going to get squashed when it falls.

And we wonder why our kids do not understand economics.

No, I missed that hoverboard exhibit at WalMart. I only go to WalMart every month or so, and to the section where I might find a hoverboard far less often than that.

Reality is not what they want. So they never acknowledge real causes and effects.

The Keynsian canon is absurd, but so too is the belief, widely held on Wall Street, that one agency of the government buying another agency's debt with created-from-thin-air money leads to economic growth. Simply stating that no entity can continuously consume more than it produces will automatically disqualify an economist from consideration for a Nobel prize or tenure at leading institutions, such is the sad state of mainstream, contemporary economics.

And yet slightly more complex deceptions are held-fast beliefs. My parents taught me that common sense is anything but common. Many people believe lies just like the great picture above. Politicians bribe for votes based on this lie.
Sound money would have normally exposed these lies. A rumbling tummy would push some one to make money rather than demand it of others.
But they get away with it, for a time.....

I am sure that she has since retired but yes it was pathetic.

I pity her students.