Posted by Tina
In case you’ve been residing under a rock and were unaware that the current administration has been greatly influenced by Keynesian economic policy let this serve as a wide awake up call. The following quote is attributed to Keynes. As you read it think GM/union bailouts, think AIG and Goldman Sachs…think massive amounts of tax dollars spent on targeted green industries and Democrat supporter states…think about the trillions of dollars piling up as debt, think about your children’s and grandchildren’s future earnings being spent today for power…think about the millions of lost jobs.
Was the purpose of all that stimulus money…the massive wealth transfer…to FIX the economy or was something else going on? Here’s the Keynes quote:
“By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens…and while the process impoverishes many, it actually enriches some…. The process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million can diagnose.” –John Maynard Keynes (1883-1946) From “Economic Consequences of the Peace” 1920
Words like “confiscate” and “destruction” are not inadvertently used here. Keynes had to know exactly what he was saying. Isn’t it logical to assume that this administration also knows what it’s doing in adopting Keynes as their economic guru?
We the people are being used and abused in a grand scheme that, intended or not, will destroy America. Want more? Try a quote from the billionaire progressive and Democrat supporting, “Mr. Moneybags”, George Soros:
“I have always harbored an exaggerated view of my self-importance. To put it bluntly, I fancied myself as some kind of god or an economic reformer like Keynes….”–George Soros from “The Alchemy of Finance” 1987
These are not men who care about opportunity for the average person. Gratification comes through the power to manipulation and control the masses to their own ends. (All emphasis mine)
Read more in an eye popping article on Canada Free Press
Tina, you are implying that the quote from Keynes was some kind of recommendation for what an economically just society should do. There is no evidence in that quote that this is his intention. He specifically says that a government “can” do this, not that it “should.” I tried to find some more context on this, and on Wikipedia it shows that Keynes is referring to Lenin’s philosophy.
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation…”
http://en.wikipedia.org/wiki/The_Economic_Consequences_of_the_Peace
By taking one sentence out, the writer of the article you link to takes Lenin out of the context in order to make it appear that Keynes is expressing his own ideas. In fact, Keynes’ point is the exact opposite of what the article states. Keynes was warning people about the causes of high inflation in Europe, which he described as a “menace.” He was not providing a blueprint for economic justice. There is nothing “mind-blowing” about his statements when taken in context.
This article is merely a sensationalistic hit piece. It took me five minutes and a Wikipedia search to find out that the premise of this article is false. If you desire your readers to be informed, you should make sure you do a slightly better job at research before you post things like this.
Chris: “… on Wikipedia it shows that Keynes is referring to Lenin’s philosophy”
BINGO
“Keynes was warning people about the causes of high inflation in Europe…”
Then the man was stupid as well as politically a Leninist. One look at what happened in the Soviet Union and another at the result of Keynesian policies used in this country in the past and you see that the economy is wrecked by government spending and high taxation. Central planning just doesn’t create a vibrant economy. Never has and never will.
“…the premise of this article is false..”
Only if you are blind to the effects of the philosophy.
You haven’t really made the case that Keynes wasn’t advocating the destruction of a free capitalist system. If Lenin was someone he admired then government control, rather than economic liberty, was likely his preference.
Maybe if you could tell us what “economic reform” Keynes was talking about, or that Obama and friends want. We know Obama has admitted he wants to “spread the wealth around”. Maxine Waters admitted that she wanted to “take over” certain American private companies. There is a lot of evidence that these people admire Keynes becasue hios policies would lead to or support the BIG government solution.
This blows my mind because it’s incredible that any American would want this form of government and it blows my mind that any American would elect someone who would and be willing to give up his freedom and opportunity to government control, to basically become a serf.
Tina, some of us have read the primary texts.
Maynard was making an observation, not promoting policy … you ignorant git.
You really are starting to piss me off. Fortunately, no one else is listening.
Well I guess you should know Libs since you’re on a second name basis with the dude!
Maynard’s observation was about what governments could do “By a continuous process of inflation”.
Keynesian economics inevitably lead to inflation.
Since he comes off as a man of considerable ego, “and does it in a manner that not one man in a million can diagnose” I’d say he could easily have been bragging!
Either way the thought did cross his mind…deliciously if you ask me. Seeing oneself as in a position to both confiscate and spend other peoples money is heady stuff. Such power…such control! Right up your alley…eh Libs?
PS…the “no one else’s” that are listening just threw an amazing amouint of your team out on their butts and for just this reason.
Hopeless featherhead!
Mmmm…only about 50,000 people.
Keynesian economic theories and management methods were dominate in many countries since the end of WWII. All U.S. presidents and legislatures applied them in one form or another up to and including the Carter administration.
A major flaw in Keynesian economics was that it neither predicted nor had any corrections for stagflation. Stagflation was first identified as a global economic problem in 1968 in Britain. Stagflation is what sent the US and countries across the globe into the worst economic decline known since The Great Depression.
Then Reagan and Thatcher were elected to office. Both decided to apply the economic models and theories of Austrian-born economist and philosopher Friedrich August Hayek.
Hayek had long been considered a fringe economist by academics where Keynes reigned supreme, but his ascendancy to international prominence was about to explode with the single greatest global economic boom in human history. The Reagan-Thatcher revolution.
When both Reagan and Thatcher started to apply Hayekian principles they knew (as Hayekian economics predicted) that things would get worse for at least two years before they got better.
Three years later representatives of governments from across the globe were flocking to the US and Britain to learn how both countries has so quickly turned around what most had been considered to be an impossible economic morass.
It is interesting to note that Hayek did not consider himself a conservative and rejected conservatism, but his definition of conservative is one we might not recognize today. Hayek was a classical liberal, a term today which is also unrecognizable if not meaningless.
To learn more about the downfall of Keynes, the ascendancy and validation of Hayek, and a great short course in history, contemporary history and economics I recommend the following:
The books and/or the PBS series —
“Commanding Heights”
and
“The Ascent of Money”
Some episodes of “The Ascent of Money” might still be available for viewing online.
http://www.pbs.org/wnet/ascentofmoney/
Both books and DVDs can still be found on Amazon.
The essential philosophical must read by Friedrich August Hayek is his book “The Road To Serfdom”. His philosophical outlook from the 1940’s applies to today and the current political climate.
http://en.wikipedia.org/wiki/The_Road_to_Serfdom
Tina: “If Lenin was someone he admired”
He wasn’t. He is blaming Lenin for inflation, and in other quotes he calls inflation a “menace.” The logical conclusion to draw from that is that he did not admire Lenin.
But of course your entire narrative relies on lumping everyone on the left together in one big communosocialmarxist category, so that leads you to believe that the two had the exact same philosophy. And that they were probably buddies who frequently hung out at ACORN with George Soros, or something.
Keynes’ economic beliefs are actually a great deal more complex than simply “big government = good.” He was against price controls, and thought that the government could create temporary solutions in times of economic crisis, but when things improved he thought the government should get out of the way.
Chris you have inserted a lot of your own beliefs about me in particular and conservatives in general into this comment. But I’ll respond to that in a moment. First let’s examine this:
“He is blaming Lenin for inflation, and in other quotes he calls inflation a “menace.”
I’ll take your word for this although you have not offered any evidence that he blamed Lenin for inflation or that he didnt admire at least the central planning and control qualities of the Leninist/Marxist model. His own model follows those of Lenin at least on a parallel track in that his policies lead to inflation or stagflation, at least when applied by American politicians of the leftist persuasion.
Obama promised to transform America. So far he has assumed control of key companies like GM and certain banks, created or threatened to create greater regulatory control in many areas of business, blocked oil production, transferred massive amounts of wealth through stimulus spending with intentions to do much more, like cap and trade, hired thousands of new government employees, and created a large entitlement program. Even the compassionate extention of unemployment benefits works to further greater government dependence. As long as people are paid something after losing their jobs they will not protest too loudly when government economic policies don’t lead to new employment opportunities…instead they will be grateful to government.
The Bolshevik plan was to take control by making the people totally dependent on government. By devaluing the currency through inflationary economic policy they destroyed all personal wealth and made the people totally dependent. (The end justified the means)
As I said these follow a parallel track.
Now for the rest of your comments:
“But of course your entire narrative relies on lumping everyone on the left together in one big communosocialmarxist category, so that leads you to believe that the two had the exact same philosophy.”
Nonesense! The “left” was not mentioned at all in the post! The post was about the folowing:
“…the current administration has been greatly influenced by Keynesian economic policy ** Was the purpose of all that stimulus money…the massive wealth transfer…to FIX the economy or was something else going on?”
It’s a question followed by a quote that describes fairly well what is happening in America since Obama’s election and his Keynesian economic policy. One of his major supporters, Soros, aparently also admired Keynes and for the same reasons…power control and destruction of the US in favor of central planning and control by the elites.
“Keynes’ economic beliefs are actually a great deal more complex than simply “big government = good.” He was against price controls, and thought that the government could create temporary solutions in times of economic crisis, but when things improved he thought the government should get out of the way.”
Fine and dandy. However those who prefer the Marxist model to the American capitalist system are obviously picking and choosing from the Keynesian model those things that have the desired bifg government/wealth transfer effect.
Chris it is your future we’re talking about.
Here is a recent article I did on the gold standard that may be of interest to your readership.
“America and the gold standard” @ http://www.wnd.com/index.php?fa=PAGE.view&pageId=333001
Peace,
Ellis Washington, JD.
http://www.WorldNetDaily.com
Blog @ http://www.EllisWashingtonReport.com
WND Archives @ http://www.wnd.com/?pageId=43&authorId=59&tId=8