We are all Keynsians on the way down.
Keynes, government regulation and even a little socialism definitely had it's time. There was a general malaise with pure market economies after the pure hands off approach that did little to help anyone during the Great Depression, leading to Facism and WWII... the government directed the economy during the war and people wanted some of that direction after the war.
That period brought us great growth for about 30 years then it started to falter and have problems... what those of us old enough to remember, remember as Stagflation.
Our family was hit hard during that time and really never recovered the same economic status we had before the recession of 79 to 82.
Since Reagan came to office the Hayek/Friedman school of economics has reigned supreme. It served us well for a time except that they never really got spending under control and every Republican president since 1980 has wracked up massive debt for us.
Well now approaching 30 years of that perhaps the pendulem is about to swing back and find that balance between Keynes and Hayek. Maybe. It is clear the Republicans have played that hand too far for too long and they are bankrupt of any idea other than spend money on the military, cut taxes and intefere like no other in your personal life (who you can and cannot sleep with or marry, how you can or cannot die) they trot out tired old lines of government staying out of our lives but really they mean stay out of their wallet, screw the everyone else.
They love to say Tax and Spend Democrats but there has been only Spend and Borrow Republicans for 25 years now. They rest of the country followed that example. Borrow and Spend. Where is the personal responsbility in that? Now that the chimp in chief has finished 4 years of devaluing our currency and making us slaves to foreign purchasers of our debt... well he is ready to leave office. Leaving the country far worse off than he found it. Far worse...
Billions in bail outs for investment bankers who have used their sophistication to take advantage of others is a-ok by them. Sharing the wealth down the income ladder... not so ok.
Will be a interesting couple of weeks here while we see how this Bear Stearns stuff plays out.
Keynes, government regulation and even a little socialism definitely had it's time. There was a general malaise with pure market economies after the pure hands off approach that did little to help anyone during the Great Depression, leading to Facism and WWII... the government directed the economy during the war and people wanted some of that direction after the war.
That period brought us great growth for about 30 years then it started to falter and have problems... what those of us old enough to remember, remember as Stagflation.
Our family was hit hard during that time and really never recovered the same economic status we had before the recession of 79 to 82.
Since Reagan came to office the Hayek/Friedman school of economics has reigned supreme. It served us well for a time except that they never really got spending under control and every Republican president since 1980 has wracked up massive debt for us.
Well now approaching 30 years of that perhaps the pendulem is about to swing back and find that balance between Keynes and Hayek. Maybe. It is clear the Republicans have played that hand too far for too long and they are bankrupt of any idea other than spend money on the military, cut taxes and intefere like no other in your personal life (who you can and cannot sleep with or marry, how you can or cannot die) they trot out tired old lines of government staying out of our lives but really they mean stay out of their wallet, screw the everyone else.
They love to say Tax and Spend Democrats but there has been only Spend and Borrow Republicans for 25 years now. They rest of the country followed that example. Borrow and Spend. Where is the personal responsbility in that? Now that the chimp in chief has finished 4 years of devaluing our currency and making us slaves to foreign purchasers of our debt... well he is ready to leave office. Leaving the country far worse off than he found it. Far worse...
Billions in bail outs for investment bankers who have used their sophistication to take advantage of others is a-ok by them. Sharing the wealth down the income ladder... not so ok.
Will be a interesting couple of weeks here while we see how this Bear Stearns stuff plays out.
VIEW 5 of 5 COMMENTS
Re. being "born" in 1919: I guess if you're gonna lie about your age, lie BIG.
Road trip was super. I'll try to get motivated and post some pics in my oh-so neglected journal. Some really jaw-dropping scenery.
Well, hope you're enjoying springtime in P-Town.
Ciao...
Sincerely, thank you for your comment.
My Mom is coming up for a week to help me settle into my new place (once I get it) and kimchee making is definitely on the list of things that help me get settled. XOXO