I have posted this on Mr. Krugman's Blog; I'm curious to see if that'll be ever approved and my question answered...Submitted by Cyril on Fri, 01/25/2013 - 07:15
Well, the fact of the matter is... very little of this matters.
Keynesian economics, as any planning-flavored economics, is pure fraud. Or rather, pure wishful thinking AND THEN, fraud. It is solely based on the (utterly wishful) assumption that economists can model, explain, anticipate, predict, and influence positively the markets. It's the dismal science: you cannot put mankind in equations. Not to THAT extent, anyway.
Software engineer here. I have feet on ground on our state of knowledge with complex, highly dynamic systems. Thanks for wondering.
But "they" (Keynesians, or their cousins, Marxists) pretend they can influence positively, regulate the markets for the common good of entire peoples, at gun point (since with force of law)? Yeah, right.
Bah. No more real currency backed by a real notion of money since August 15th, 1971. Gold isn't money? How come I cannot get to the gold reserves tomorrow and pick up a ton of it? I'll be curious to see some time later if Mr. Krugman can provide any *meaning* (strict sense), to these stunningly beautiful charts:
I see none. It's like in a rigged game of Monopoly. You're not the banker, just a regular player, but you have a unique privilege: you can have the banker print and hand you out as many bills as you wish during the game without the other players knowing. Need a drawing?
I urge everybody to re-read the Article 1, section 10 of the Constitution. End The Fed.