In the link, anyone notices that what Keynesian, MacroEconomics, is heavily about is a collusion of private and public spending to avoid recessions. If there are unemployed, then why not public works?
John Maynard Keynes: The Concise Encyclopedia of Economics | Library of Economics and Liberty
In fact, China, Canada, Australia, The Germans, The French, and even a cast of billions had the same concept: Public Works!
In the United States, we have an Ivy League. Regardless of what was supposed to be done, and regardless of what everyone else was doing: The United States refused to go along, and do anything that it really was supposed to do.
In fact, TARP was not Keynesian. Elsewhere noted, it is better thought "Paulson's Revenge," for having forgone all the banker's bonuses all those years in office. The banker's got bonuses, but no Public Works! Even the "Tea Party" eventually got mad, and ceased to believe in even the Conservative GOP.
In fact, The Stimulus was only one third Keynesian. It was one-third a bail-out of state and local public sector employees--and not public works! It was one-third public works to commence in the following year. It was one-third a remedy of what Keynes actually should be said to have overlooked, which is arithmetic. When the rich get richer, and the poor get poorer: Then actually the economy cannot work at all!
So what remedy was devised? The first attempt at adjustment had been the raised and indexed, standard deduction, and personal exemptions, in the 1986 U. S. Income Tax reform. Rather than a Reagan Trajectory, the Senate Democratic Leader, Alan Gregg Cranston was the Head Liberal In Charge. The outcome of that was a part of the Reagan Trajectory. More and more people got thrown off the tax rolls, and so were not included in any further, income tax relief measures---or "stimulus" measures. Reagan did massive, ineffective, defense procurements, and really did not do public works. Reagan did not prepare for 9/11, with all the spending.
Bush II, Term I, would try various "stimulus measures," to no avail. Those were tax cuts, and not public works. Finally, A Reagan Trajectory Opportunity was created out of the nonsense of a gun-waving lunatic with "Weapons of Mass Destruction." Government had effectively fled to "an undisclosed location," or something. Later On, "Paulson's Revenge" would make it look like it would never come out! A housing bubble was created out of the fiction of the Clinton Administration: That actually the poor were better off. That era, however, was tax-cut based, and was no more. These were not public works, but faudulent, aka, business as usual.
So the poor were unable to pay the mortgages, and the bundled instruments all became worhless. The rich houses all came tumbling down. . . .Sort of. There was a temporary cash flow bind, in reality. Paulson sought to address that, and that was not Keynesian. The Federal Reserve could have done a less expensive job: With the federal money spent on public works, instead.
The Refundable Income Tax Credit is a stimulus that works in the old-fashioned way, even though public works are not involved. The equal dollar amount adjustment corrects the tendency to fixed percentage income increase: Throughout the Economy. Like public works, or the ignored BP settlements in the last employment data, there is income provided.
That part is still not Keynes, who had never had the clue that arithmetic would be an economic problem, even less that it would a solution. Keynes focused more on public works.
The Refundable Tax Credit is like a National COLA, government subsidized. Easily enough, planet trading partners may soon seem to notice this.
That in fact will likely happen, one way or another: But in fact it is not a Keynesian program. Neither was another one third of the stimulus, or 100% of the previous black hole in the universe of U. S. Presidential Administrations.
"Crow, James Crow: Shaken, Not Stirred!"
(Would a Bush Dam, or Paulson Dam, be any sort of different dam from the great Hoover Dam of America? Not Even Great Prophet, Rev. Jeremiah Wright was never able to approach that leve of Damn, Oh Damn! Goddess be praised. . . .Hoover Dam was actually Keynesian!)
John Maynard Keynes: The Concise Encyclopedia of Economics | Library of Economics and Liberty
In fact, China, Canada, Australia, The Germans, The French, and even a cast of billions had the same concept: Public Works!
In the United States, we have an Ivy League. Regardless of what was supposed to be done, and regardless of what everyone else was doing: The United States refused to go along, and do anything that it really was supposed to do.
In fact, TARP was not Keynesian. Elsewhere noted, it is better thought "Paulson's Revenge," for having forgone all the banker's bonuses all those years in office. The banker's got bonuses, but no Public Works! Even the "Tea Party" eventually got mad, and ceased to believe in even the Conservative GOP.
In fact, The Stimulus was only one third Keynesian. It was one-third a bail-out of state and local public sector employees--and not public works! It was one-third public works to commence in the following year. It was one-third a remedy of what Keynes actually should be said to have overlooked, which is arithmetic. When the rich get richer, and the poor get poorer: Then actually the economy cannot work at all!
So what remedy was devised? The first attempt at adjustment had been the raised and indexed, standard deduction, and personal exemptions, in the 1986 U. S. Income Tax reform. Rather than a Reagan Trajectory, the Senate Democratic Leader, Alan Gregg Cranston was the Head Liberal In Charge. The outcome of that was a part of the Reagan Trajectory. More and more people got thrown off the tax rolls, and so were not included in any further, income tax relief measures---or "stimulus" measures. Reagan did massive, ineffective, defense procurements, and really did not do public works. Reagan did not prepare for 9/11, with all the spending.
Bush II, Term I, would try various "stimulus measures," to no avail. Those were tax cuts, and not public works. Finally, A Reagan Trajectory Opportunity was created out of the nonsense of a gun-waving lunatic with "Weapons of Mass Destruction." Government had effectively fled to "an undisclosed location," or something. Later On, "Paulson's Revenge" would make it look like it would never come out! A housing bubble was created out of the fiction of the Clinton Administration: That actually the poor were better off. That era, however, was tax-cut based, and was no more. These were not public works, but faudulent, aka, business as usual.
So the poor were unable to pay the mortgages, and the bundled instruments all became worhless. The rich houses all came tumbling down. . . .Sort of. There was a temporary cash flow bind, in reality. Paulson sought to address that, and that was not Keynesian. The Federal Reserve could have done a less expensive job: With the federal money spent on public works, instead.
The Refundable Income Tax Credit is a stimulus that works in the old-fashioned way, even though public works are not involved. The equal dollar amount adjustment corrects the tendency to fixed percentage income increase: Throughout the Economy. Like public works, or the ignored BP settlements in the last employment data, there is income provided.
That part is still not Keynes, who had never had the clue that arithmetic would be an economic problem, even less that it would a solution. Keynes focused more on public works.
The Refundable Tax Credit is like a National COLA, government subsidized. Easily enough, planet trading partners may soon seem to notice this.
That in fact will likely happen, one way or another: But in fact it is not a Keynesian program. Neither was another one third of the stimulus, or 100% of the previous black hole in the universe of U. S. Presidential Administrations.
"Crow, James Crow: Shaken, Not Stirred!"
(Would a Bush Dam, or Paulson Dam, be any sort of different dam from the great Hoover Dam of America? Not Even Great Prophet, Rev. Jeremiah Wright was never able to approach that leve of Damn, Oh Damn! Goddess be praised. . . .Hoover Dam was actually Keynesian!)
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