Comments on: Where Keynes Went Wrong Book Review – Keynesian Economics http://www.thegreenestdollar.com/2009/11/where-keynes-went-wrong/#utm_source=rss&utm_medium=rss&utm_campaign=where-keynes-went-wrong Save Money. Save the Environment. Be Happy. Mon, 30 Jan 2012 16:01:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: johnny dhttp://www.thegreenestdollar.com/2009/11/where-keynes-went-wrong/#comment-13772 johnny d Fri, 03 Sep 2010 04:29:16 +0000 http://www.thegreenestdollar.com/?p=2496#comment-13772 Brian, state govt.s are indeed facing bankruptcy. They are going bankrupt because their spending was greater than revenue all along. The bloat of govt. is the problem.They never did anything to adjust spending until well after the downturn started. State govt.s also cannot manipulate the money supply like the fed govt. can. They are facing the economics of reality where the fed govt is still in fantasy land. The money the states are receiving from the fed is mere monopoly money and will be taken back by the fed through higher fed taxes which will in turn further slow the economy. If the fed govt taxed less, more revenue would be available to the states without the fed govt taking a taste before so graciously giving it to the states to balance their budgets. A dollar of fed income tax is stepped on by the the fed, then 25 cents is sent back to the state as relief only to be followed by a fed tax increase to pay for the $ that you sent them in the first place. How does that make any sense? I would remind you of the increased spending by fdr before any reduction. His "reduced" spending was still many times the level of spending before he took office. You may want to look at another prospective yourself, may I suggest Hayek, Mises,Hazlet. Enjoy! Brian, state govt.s are indeed facing bankruptcy. They are going bankrupt because their spending was greater than revenue all along. The bloat of govt. is the problem.They never did anything to adjust spending until well after the downturn started. State govt.s also cannot manipulate the money supply like the fed govt. can. They are facing the economics of reality where the fed govt is still in fantasy land. The money the states are receiving from the fed is mere monopoly money and will be taken back by the fed through higher fed taxes which will in turn further slow the economy. If the fed govt taxed less, more revenue would be available to the states without the fed govt taking a taste before so graciously giving it to the states to balance their budgets. A dollar of fed income tax is stepped on by the the fed, then 25 cents is sent back to the state as relief only to be followed by a fed tax increase to pay for the $ that you sent them in the first place. How does that make any sense? I would remind you of the increased spending by fdr before any reduction. His “reduced” spending was still many times the level of spending before he took office. You may want to look at another prospective yourself, may I suggest Hayek, Mises,Hazlet. Enjoy!

]]> By: Brianhttp://www.thegreenestdollar.com/2009/11/where-keynes-went-wrong/#comment-11173 Brian Thu, 19 Nov 2009 15:43:45 +0000 http://www.thegreenestdollar.com/?p=2496#comment-11173 I am guessing that you all have seen what is going on in most state and local governments right now. They are going bankrupt. this is because most of these governments have to have a balance budget where revenue must match what they spend. The "great recession" has depleted this revenue so much that these governments have had to cut jobs, libraries, after school programs, pensions. If you would like the federal government to operate in this way than the country would go under. Keep in mind that many of these local governments were able to balance their budgets from money received from the federal government. Your thought is that the federal government should be acting like a citizen and balancing its check book. You look at history as your guide. You cannot pick and choose. Yes the market can self correct. But, if we are to start cutting federal spending now, where will we be. In history, it will be similar to what FDR did in the late thirties which most argue prolonged the Great Depression indefinitely. It was only the war spending that got us out of it. While I appreciate your interest in a good book, you may want to look at more perspectives. I am guessing that you all have seen what is going on in most state and local governments right now. They are going bankrupt. this is because most of these governments have to have a balance budget where revenue must match what they spend. The “great recession” has depleted this revenue so much that these governments have had to cut jobs, libraries, after school programs, pensions. If you would like the federal government to operate in this way than the country would go under. Keep in mind that many of these local governments were able to balance their budgets from money received from the federal government.

Your thought is that the federal government should be acting like a citizen and balancing its check book. You look at history as your guide. You cannot pick and choose. Yes the market can self correct. But, if we are to start cutting federal spending now, where will we be. In history, it will be similar to what FDR did in the late thirties which most argue prolonged the Great Depression indefinitely. It was only the war spending that got us out of it.

While I appreciate your interest in a good book, you may want to look at more perspectives.

]]> By: RenaissanceRoninhttp://www.thegreenestdollar.com/2009/11/where-keynes-went-wrong/#comment-11157 RenaissanceRonin Wed, 18 Nov 2009 16:23:12 +0000 http://www.thegreenestdollar.com/?p=2496#comment-11157 @Heather- Laminated? Um... well, if I spit on it first, it'll be "shiny...' Will that work? :) By the way... your club dues (payable in Euros, remember?) are late... Using the Government's equation (scheme) for penalty assessment, you now owe $3.6 million bucks... ;) @Heather- Laminated? Um… well, if I spit on it first, it’ll be “shiny…’ Will that work? :)

By the way… your club dues (payable in Euros, remember?) are late… Using the Government’s equation (scheme) for penalty assessment, you now owe $3.6 million bucks… ;)

]]> By: heatherhttp://www.thegreenestdollar.com/2009/11/where-keynes-went-wrong/#comment-11155 heather Wed, 18 Nov 2009 13:45:53 +0000 http://www.thegreenestdollar.com/?p=2496#comment-11155 @Rebecca- I hear you. I know some people argue that "financing for families" is not the same as "financing for a society", that is, what works for a family won't work for a government. But, I just don't see why not. It's just smart to live within your means and be responsible with your money. And, that's simply not happening with our government. @Ronin- Do I get a LAMINATED membership card? I only want to join if it's laminated... :) @Rebecca- I hear you. I know some people argue that “financing for families” is not the same as “financing for a society”, that is, what works for a family won’t work for a government. But, I just don’t see why not. It’s just smart to live within your means and be responsible with your money. And, that’s simply not happening with our government.

@Ronin- Do I get a LAMINATED membership card? I only want to join if it’s laminated… :)

]]> By: Rebecca Riverahttp://www.thegreenestdollar.com/2009/11/where-keynes-went-wrong/#comment-11152 Rebecca Rivera Wed, 18 Nov 2009 06:02:38 +0000 http://www.thegreenestdollar.com/?p=2496#comment-11152 Hello! I have not yet read that book, but I absolutuely think the government should let the market self correct. It also floors me that I have to balance my budget every month almost to the penny so I can stay current, yet the government just keeps on spending. It scares me how off our government has become and how much say they have over our daily lives, with no real accountability themselves. Hello! I have not yet read that book, but I absolutuely think the government should let the market self correct. It also floors me that I have to balance my budget every month almost to the penny so I can stay current, yet the government just keeps on spending.

It scares me how off our government has become and how much say they have over our daily lives, with no real accountability themselves.

]]> By: RenaissanceRoninhttp://www.thegreenestdollar.com/2009/11/where-keynes-went-wrong/#comment-11150 RenaissanceRonin Wed, 18 Nov 2009 02:22:20 +0000 http://www.thegreenestdollar.com/?p=2496#comment-11150 Heather, Welcome to MY world... People wonder why my "Shipping Container Home" blog seems so "anti-political" at times... Your membership card is in the mail. Welcome to the club. The dues are $3.95. due every Tuesday (payable in Euros ONLY - because the dollar is worthless). Late Payment Penalties compounded at 381%... um... er... ah jeez, never mind... I was having that "Woke up to discover that I'm an IRS agent" nightmare again... Oy! GREAT post. Who says you're just all about recycling "belly-button lint" and stuff... ;) Heather,

Welcome to MY world… People wonder why my “Shipping Container Home” blog seems so “anti-political” at times…

Your membership card is in the mail. Welcome to the club. The dues are $3.95. due every Tuesday (payable in Euros ONLY – because the dollar is worthless). Late Payment Penalties compounded at 381%… um… er… ah jeez, never mind… I was having that “Woke up to discover that I’m an IRS agent” nightmare again… Oy!

GREAT post. Who says you’re just all about recycling “belly-button lint” and stuff… ;)

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