Keynes For Dummies

The paragraph below is from the American Thinker, September 2011, and it emphasizes the critical disaster of Franklin Deleno Roosevelt’s policies using Keynesian economics. Why the American public is not screaming at the top of their lungs at Obama, his administration, Pelosi, Reid, and all of congress, is beyond me. The definition of insanity is doing the same thing over and over and expecting a different result. Obama is just this stupid and / or destructive and Americans are suffering for the election, and no re-election, of the most incredibly disastrous President that ever walked into the White House.

Lawrence Wolf writes:

“After three years of nearly $4 trillion of Obamanomic stimulus consisting of little more than, foolish pork, union payoffs and bailouts, the economy shows little sign of improvement. “If only we had spent more.” In fact, during the 1930s, we did spend more, much more. It too failed. Henry Morgenthau, Jr., FDR’s Treasury Secretary, said the following in 1939 to the House Ways and Means Committee: “We are spending more money than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get jobs. We have never made good on our promises. I say after eight years of this administration: We have just as much unemployment as when we started and an enormous debt to boot.

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I can find no other time when abject failure has been used as an explanation for success. After six years of New Deal, WPA and a host of other big Government stimulus programs, unemployment effectively increased (when adding the WPA employed to the unemployed) up through 1939. “Doing more”, more government jobs, more government spending and more government stimulus in fact, increased the severity of the downturn. While we can easily argue that both the Great Depression of the 30s along with the current recession are huge failures of big Government stimulus programs while no one seems to be able to find a single event when Keynesian economics has ever succeeded. Part of the Keynesian theory may in fact be the complaining that routinely follows its failure. FDR, according to a letter from Mr. Keynes, apparently didn’t execute Keynesian theory properly while the current administration, according to Progressives like Paul Krugman, didn’t spend enough. Maybe it just doesn’t work.”

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As some or most of you know, I’m an artist by profession. I’ve been a lot of things actually; wife, mom, red cross volunteer in my twenties, art student and president of the local art guild, treasurer of the Humane Society for a while in my thirties, ‘single’ mom for thirteen years, achieved a real estate license along the way, business owner in my forties and early fifties, and now a fine artist and political blogger. I’ve lived in Ohio, Colorado, California, and North Carolina. In short, I’ve been around the block for a while….and that sounds like I’m older than I wish to imply, but ……there it is.

This post is for my kids. My son is 36 and my daughter is 32. They are smart and accomplished and I adore them. I also have three adorable grand-children who are too young to appreciate this information, but I trust my children will pass their knowledge along to them.

In all of my education and my children’s educations, we did not study political consequences in economics. Our economic study was targeted toward what we needed for our personal lives. My daughter, who is in the banking industry, has more of the big picture than the rest of us, but her studies were practical applications in banking and not focused on the political manipulations of the government.

So now we are looking at our country being destroyed by economic theory that, by ideology, I disagree with on the grounds of “big government” intervention, destruction of the dollar, and some shadowy figures in the Fed pulling strings jerking us all around. Today I went to my friend Mr. Google and typed in a search on “why is Keynes wrong.” A video came up that is 4 minutes long and is the short version of historical mistakes based on Keynes economics. It shows the basic outcomes of economic insanity…and I feel obligated to share it with my children and whoever else reads my opinions here. I hope you find this helpful. When people ask you why you disagree with the economic policies of the Obama administration, the Bush administration, Congress, the Fed, and the Treasury’s guy Geithner, here is your answer!

Throwing government money at the country is not the answer to anything. It is like incubating a parasite that sooner or later is going to eat the host from the inside out. Pass this along to all of your children and your friends. Share the knowledge!

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