Keynesian Economics (Krugman, Bernanke, the FED, bailouts) is a joke.

[Vulgotha]

Looking at our fiscal situation, and ground zero in Europe, illustrates quite clearly why Keynesian economics is unsustainable and removed from reality.

There is no such thing as a 'free lunch' no matter how much Krugman would like to pretend that there is. Government involvement is what created this recession, and its solution is only worsening a recovery.

I mean hell, look at our choices for president. Both are going to do nothing to shrink the deficit in any meaningful way, they don't have the guts.

The Austrian school of economics is far more sound.

[Morganator]

Paul Krugman is a fucking idiot and so is everyone else who subscribes to and endorses Keynesian Economics. There is the Austrian Economics model and then there is lunacy.

[keefy]

when I first saw the word Keynesian I pronounced it "Key nesian"

[Vulgotha]

Paul Krugman is a fucking idiot and so is everyone else who subscribes to and endorses Keynesian Economics. There is the Austrian Economics model and then there is lunacy.

I'm normally not a man of extremes but I'm quickly approaching this conclusion.

[Morganator]

I'm normally not a man of extremes but I'm quickly approaching this conclusion.

The most fucked up part is that Bernanke just announced QE3. I knew this would happen before the elections. I KNEW it would happen sometime between June and September. Republicans and Democrats alike, OWN this.

[Valefor]

I don't know enough about the subject to argue one way or the other, but I have recently purchased a book called Economics in One Lesson, which is apparently a good introduction to Austrian economics.

[Vulgotha]

Austrian Economics, to me, is just common sense. Keynesians... To me their theory is like voodoo.

[weskurtz81]

Really not much I can add that I haven't discussed in the past... Austrian economics is much more sound than Keynesian. However, we aren't even REALLY practicing Keynesian here in the states, if we were we would only deficit spend for a limited amount of time... but we never really stop. IMO, we are practicing the American School of Economics, spend as long as you have the credit to spend, go into bankruptcy later.

Obama has a clear understanding of the American School of Economics (some call it kicking the can down the road), he is following it to a T!

[Morganator]

I don't know enough about the subject to argue one way or the other, but I have recently purchased a book called Economics in One Lesson, which is apparently a good introduction to Austrian economics.

Excellent. There are plenty of books to read in regards to Austrian Economics. I suggest you out the website, www.mises.org. Ludwig Von Mises is one of the forefathers of the Austrian Economics school of thought. There are also a lot of other great authors too.

[Valefor]

Excellent. There are plenty of books to read in regards to Austrian Economics. I suggest you out the website, www.mises.org. Ludwig Von Mises is one of the forefathers of the Austrian Economics school of thought. There are also a lot of other great authors too.

Yea, that's the site where I obtained the book recommendation.

I am about 2/3 of the way through the book now, and I must say, it's hard to find fault with Austrian logic.

[Morganator]

Yea, that's the site where I obtained the book recommendation.

I am about 2/3 of the way through the book now, and I must say, it's hard to find fault with Austrian logic.

The thing to remember and acknowledge about Austrian Economics is that it uses logic and common sense and it doesn't use fuzzy math and fancy shmancy loopy poopy equations to make sense. I've always had this saying. If you need to get fancy with the math or logic to make it "right", then chances are, it isn't worthy.