Message:

<p>[QUOTE=&quot;V. Kurt Bellman, post: 1984218, member: 71723&quot;]My degree is in economics from a very old college (founded in the 1700&#039;s) in Pennsylvania. Only Keynesianism was presented as a useful paradigm and adhering to its precepts has never steered me wrong, not even once. Monetarism, and supply side, and Austrian School were all presented, taught, and frankly mocked to death by the time we were graduating.</p><p><br /></p><p>John Maynard Keynes has never steered me wrong. Every economic problem I see, I analyze with the Keynesian filter, and the prescription, when done, always works, whether here or anywhere else. Every time anyplace goes neo-econo-con, and they obsess on sovereign or other debt problems, they go farther down the drain. Then they go off of austerity and recover nicely. Works every time it is tried. See what Japan and Britain have recently done and what the EU and Draghi are just now starting and watch closely.</p><p><br /></p><p>Turns out sovereign debt is mostly benign. What matters is employment and wage levels. Concern yourself with debt levels and keeping wages down, and watch your economy implode, except at the very top.</p><p><br /></p><p>You can&#039;t allow a concern for keeping interest rates higher to help savers until and unless you have full employment. While there is labor market slack, you need near-zero interest rates to incentivize those with spare funds to apply them to enterprise development, and not low risk savings instruments. I have no sympathy for savers who whine they can&#039;t make a return without assuming risk. That&#039;s the whole fully intentional point![/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in