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02/19/2010

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ehmoran

Well, maybe when we realize that Keynesian economics actually believe, preach, and teach that money grows on trees, we will finally admit and teach that Keynesians don't understand that wealth comes from individual production, efficiency and ingenuity.

I feel we have one of two ways to proceed, complete Tyranny or a Real Free Market system. The first will erase or eliminate all freedoms, it must. The second will require acceptance of personal responsibility for oneself and, to a lesser extent, for those around us.

What will Washington decide? Or will Americans let them decide this for us.......

Terry Baker

Lectures of "personal responsibility" don't argue for a Real Free Market System, which has a track record of economic destruction where attempted and no real chance of EVER being actually applied to an economy like that in the United States.

Keynes understood well enough that a blockage of economic activities can freeze an otherwise productive economy...the people stand ready to produce, the machines and technologies stand ready, the other resources...but somehow not enough is being produced. Perhaps, as now, it is partly a matter of the god damned banks not lending anyone any money, eh?

Hence, a reasonable economist might suggest fiscal stimulus to stimulate production; but it can't be insufficient. Not, say, a paltry 10% of the years' economy. That's hardly as much as got shoved into the fire via the two wars and the unconscionable (and not stimulating at all) tax breaks for the wealthy.

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