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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Thursday, April 04, 2013

The Keynesian Endgame - David Stockman - Mises Daily

The breakdown of sound money has now finally generated a cruel endgame. The fiscal and central banking branches of the state have endlessly bludgeoned the free market, eviscerating its capacity to generate wealth and growth. This growing economic failure, in turn, generates political demands for state action to stimulate recovery and jobs.

But the machinery of the state has been hijacked by the various Keynesian doctrines of demand stimulus, tax cutting, and money printing. These are all variations of buy now and pay later—a dangerous maneuver when the state has run out of balance sheet runway in both its fiscal and monetary branches. Nevertheless, these futile stimulus actions are demanded and promoted by the crony capitalist lobbies which slipstream on whatever dispensations as can be mustered. At the end of the day, the state labors mightily, yet only produces recovery for the 1 percent.
We are probably finally getting to the end of the 80 year American experiment in American socialism. The nation is struggling and with a massive burden of debt, the ship will eventually sink. But all is not lost, the massive failure of central planning and Marxism will be a painful lesson for folks and with the cathartic elimination of all knowing and all powerful central government, the people of the nation can finally get back to doing what they do best, creating and living their lives in how they see fit.

The Keynesian Endgame - David Stockman - Mises Daily

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