Source – charleshughsmith.blogspot.ca
– “…Can we finally admit that eight years of following the Keynesian coloring-book plan have not just failed, but failed spectacularly, and not just failed spectacularly, but made the economy even more vulnerable and fragile, as more and more future income must be devoted to service the skyrocketing debts?”:
The Keynesian Cult Has Failed: “Emergency” Stimulus Is Now Permanent – By Charles Hugh Smith
Can we finally admit that eight years of following the Keynesian coloring-book have not just failed, but failed spectacularly?
What do we call a status quo in which “emergency measures” have become permanent props? A failure. The “emergency” responses to the Global Financial Meltdown of 2008-09 are, eight years on, permanent fixtures. Everyone knows what would happen if the deficit spending, money-printing, zero interest rates, shadow banking, asset purchases by central banks and all the rest of the Keynesian Cult’s program stopped: the…
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1 thought on “DAS KAPITAL: The Keynesian Cult Has Failed, “Emergency” Stimulus Is Now Permanent – By Charles Hugh Smith”
Karl Marx’s biggest failing is that he didn’t understand the role of private banks in creating money. There isn’t one mention of it in Das Kapital.