Durbin: The Death of Keynesian Economics

[VTHokieFan]

Keynes advocated government saving during good times, and spending those savings in bad; not going into debt during bad times.

[BentBow]

Originally Posted by JazzyTallGuy

One man's opinion doesn't constitute fact.

Also how can you say $1 trillion dollars was taken out of the private sector if private construction companies and other private business got contracts that involved stimulus money?

Giving equally, every man, woman and child, $30,000 would have done more to stimulate the private sector, than the government picking the winners(their buddies) and losers in the 1 trillion give away.

[BigJon3475]

Originally Posted by JazzyTallGuy

Can you explain how the United States is moving toward state capitalism.

It appears we are moving toward less government spending.

If anything the United States is moving toward a plutocracy based on the power of corporations and the wealthy.

That was for China.

[BigJon3475]

Originally Posted by BentBow

Giving equally, every man, woman and child, $30,000 would have done more to stimulate the private sector, than the government picking the winners(their buddies) and losers in the 1 trillion give away.

They would have went straight to the upper-class Walmarts but you can rest assured the money will still end up in Asia and in the pockets of corporations because there's nothing you can do now to stop globalization except a really big fat nasty nuclear laden war.

Well, I guess you could start nationalizing every industry and start practicing a form of state capitalism to compete with China. Imagine if the government actively sought out people with good ideas and people who knew how to make money and then give them endless credit and set them loose...

No wait time, no bureaucracies, you lose.

It took 5 years for a deal to go through with us.

That's a loss of revenue of $15 million.

China instantly backs what it wants. No wait time, fast government, McDonald's style.