Dude, the middle class was dead when Clinton signed NAFTA. Not sure what middle class you are speaking about.
Wow, you don't read context well do you? I never said I thought it was good. It's what Keynesians like you have been doing now for 75 years. Keynesians are like bad traders, they try to make their theories work, and when they fail, time for war. War gets the debt machine going and this country is fueled by debt. You should be mad bud. Your left loving peacenik friends are anything but. Spend, spend, spend. I guess we can thank Alexander Hamilton for this. He was one of the first to come out and say it, America needs to get into debt and fast.
have you been drinking? No problem, that's what most non Keynesians do on a Friday night. Might I suggest some pot? Monday will be here before we all know it, so we don't have much time. And like that man said, "Timing is everything." If it makes you feel any better, Keynes warned about those that took his ideas as a religion. As far as I know, no country or government has ever followed his ideas so we don't really know how they would work if actually implemented
Well, I do have a solution to the problem that I think will be very appealing to the great bulk of the "left" and the "right". The first step, though, is for a growing number of intelligent people of all political persuasions to "take the blinders off and realize there is a larger problem that is not being addressed by the current economic and "jobs" debate.
I'm not understanding what you have written above either. What exactly do you mean by "It's what Keynesians like you have been doing now for 75 years." What is it that we have been doing for 75 years? And you also lost me here as well: "Keynesians are like bad traders, they try to make their theories work, and when they fail, time for war." Oldtime pointed out that [probably] no nation has yet put Keynes' ideas fully into practice as he had thought they should be. There is general agreement that the Fed's QE program is Keynesian-like, but of course it remains to be seen if the government will raise taxes or reduce spending once boom times return. That's the other half of what Keynes recommended. I am pleased if you have recognized that war is bad all the way around. The individuals who get wealthy from war are doing so by destroying others' assets and lives. It is beyond my comprehension why anyone would advocate war in preference to, say, Keynes' approach to reviving a depressed economy. I'm pleased to know you are not advocating war as a means of stimulating an economy. Individuals that have fallen on hard times may not be able to borrow and invest their way out of economic difficulties. They may have no choice other than belt tightening. However nations, such as the U.S.A., with good credit and their own fiat currency, do have choices. They do not have to choose austerity. Those who want the U.S. to cut spending during a period of recession and high unemployment, and continue tax policies that have already caused harmful wealth redistribution, are following economic measures that have been tried in the past and failed to work as intended. So far, the Fed's QE program has worked well to revive some parts of a seriously ailing U.S. economy, and it's headed off what many economists believe would have otherwise been a depression at least as bad as that experienced in the 1930's. What is sorely needed at present is progressive action from the U.S. Congress that will complement and complete the Fed's program. But we have elected representatives that are bent on destroying government and hoping for failure. Let us all hope these miscreants are soon recognized for their destructive natures. Let's not return them to Congress.
We have seen very little Austerity in the last 50 years. Keynesianism has been applied but incorrectly. We have only seen the stimulative side, but have rarely, if ever built up reserves during periods of prosperity. I think THEORETICALLY Keynesianism could work, but it ignore political and human nature to think that we could do the half of the Keynes equation that balances the stimulation.
Keynes said when you have a recession you grow your way out by cutting taxes. He also spoke of balancing out the deficit during good times. Basic common sense which eludes politicians -- partly because the private owned Fed and its privately owned banks make money off the debt.
If the Fed was interested in creating jobs, they would find a way to get ultra-low (0) interest rate loans to small businesses. Since small businesses are the backbone of the Amuricun Econumie (by their own words). "Extraordinary times require extraordinary measures" Instead - where does the resource go? TBTF gamblers. You don't need the Fed to tell you what their priority is - they are showing you every day.