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Old 07-31-2018, 06:46 PM
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You remember the old Churchill line, "Democracy is the worst form of Government except for all those other forms that have been tried from time to time. ?"

Well, Keynesian economics is the worst form of economics except for all other forms that have been tried from time to time.

The virtue of Keynesian economics is we know it works. We know if we pour X amount of government stimulus into the economy we're likely to get Y. Other economists have spent decades trying to build a better mouse trap, but none have developed a theory that stands up as well to the test of actual implementation.
Chile was the experiment for Friedman and the Chicago School. Disaster on every level.
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Old 07-31-2018, 06:48 PM
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I don't know who either is. I'm watching a few Shapiro videos right now though
Epshteyn was too much of a douche to work in the White House and is now a mouth piece for Sinclair News. You'd recognize him.
  #14553  
Old 07-31-2018, 06:51 PM
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Epshteyn was too much of a douche to work in the White House and is now a mouth piece for Sinclair News. You'd recognize him.
I'll look him up in a bit
  #14554  
Old 07-31-2018, 06:52 PM
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Debt is US Treasury issued debt instruments. What it is not is a signature loan from the US to China, Japan, whoever. Much of it is owned by our citizenry and retirement plans. There is a vast misunderstanding as to the exact nature of this particular debt.

What do you think would change if there was no debt?
I have no idea. From my simple understanding of debt though, it has to be paid at some point and usually adds interest.
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Old 07-31-2018, 07:09 PM
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This as a couple of years old, but it gives you a bit of info on where the debt is.

https://www.worldatlas.com/articles/...n-debt-to.html

Blows a bit of a hole in the "borrow from China" BS we often hear. And China owes the US about 1.3T as well.
  #14556  
Old 07-31-2018, 07:12 PM
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The week the stimulus package was being debated in Congress during Obama's first term I saw Paul Krugman (who self identifies as a Keynesian) getting interviewed on MSNBC and, as I recall, he pulled a little calculator out of his pocket, back-of-the-enveloped the amount of stimulus that would be necessary to get back the jobs that had been lost in the Great Recession quickly, and then concluded the number being debated was half of what was necessary for an adequately robust, shorter-term recovery.

And he was right.

Krugman later got a Nobel prize for economics, but that anecdote tells you that you don't need a Nobel prize for economics to apply Keynesian principles effectively. All you need is a little calculator.
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  #14557  
Old 07-31-2018, 08:39 PM
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Back onto the topic of waste

+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.
  #14558  
Old 08-01-2018, 01:15 AM
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We will never see a president run on paying off the debt. No one is going to win votes by being responsible, it's a massive problem with the democratic system.
Al Gore, Mr Lockbox did. Lost to the instant gratification of tax cuts.
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  #14559  
Old 08-01-2018, 06:35 AM
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Al Gore, Mr Lockbox did. Lost to the instant gratification of tax cuts.
I should have said win on that platform, not run
  #14560  
Old 08-01-2018, 09:23 AM
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Al Gore, Mr Lockbox did. Lost to the instant gratification of tax cuts.
“Lost”*
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