Tuesday, May 24, 2016

Keynesian Economics Has 
Destroyed The Economy
"The errors of Keynes have empowered sociopathic political classes all over the world and deprived the world of the economic progress we would otherwise have enjoyed. Japan is a great example of Keynesian devastation: the Nikkei 225, which hit 38,500 in 1990, has never managed to reach even half that level since. A quarter century ago the index of industrial production in Japan was at 96.8; after 25 years of aggressive Keynesian policy that gave Japan the highest debt-to-GDP ratio in the world, the index of industrial production is…still 96.8. The United States, meanwhile, has had sixteen years of fiscal stimulus or preposterously low-interest rates, all of which Keynesians have cheered. The result? Two million fewer breadwinner jobs than when Bill Clinton left office. No amount of stimulus ever seems to be quite enough. And when the stimulus fails, the blinkered Keynesian establishment can only think to double down, never to question the policy itself. But there is an alternative, and it’s the one Murray N. Rothbard and Ludwig von Mises championed: the Austrian School of economics and its analysis of the pure market economy."
- Lew Rockwell
LINK HERE to the essay

1 comment:

Anonymous said...

Did the Clinton Foundation Have a Storefront Accountant Like Madoff?

By Pam Martens and Russ Martens: May 24, 2016
Presidential Candidate Hillary Clinton

A growing number of red flags are cropping up around the charity operation known as the Bill, Hillary & Chelsea Clinton Foundation.

What is thus far beyond dispute regarding the Clinton Foundation’s finances is that Hillary Clinton’s political operatives have been on its payroll and that it failed to report tens of millions of dollars in foreign government donations on its 990 tax return to the IRS.

Will we ever get to the bottom of what the real truth is on the money spigot known as the Clinton Foundation? One man, Charles Ortel, armed with a Harvard MBA and a long history in finance, has publicly vowed to get to the bottom of what he is calling the “largest unprosecuted charity fraud ever attempted.”

If Ortel is right and his findings preempt Hillary Clinton’s bid for the Oval Office, he will have the undying thanks of a grateful nation for sparing us a rerun of the Hill and Bill Show in the White House, a confidence-draining possibility that a nation struggling under $19 trillion in debt and a subpar growth rate of two percent or less since the 2008 crash can ill afford.