Results 1 to 11 of 11
  1. #1
    PSU Technical Advisor
    Vulgotha's Avatar
    Join Date
    Jan 2007
    Age
    24
    Posts
    15,953
    Rep Power
    144
    Points
    106,715 (0 Banked)
    Achievements IT'S OVER 9000!

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




    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.


  2. #2
    Forum Sage

    Join Date
    Apr 2006
    Age
    31
    Posts
    8,415
    Rep Power
    102
    Points
    1,690 (0 Banked)
    Paul Krugman is a $#@!ing idiot and so is everyone else who subscribes to and endorses Keynesian Economics. There is the Austrian Economics model and then there is lunacy.

  3. #3
    Supreme Veteran
    keefy's Avatar
    Join Date
    Nov 2007
    Location
    The Sock Gap
    Posts
    17,703
    Rep Power
    126
    Points
    60,431 (0 Banked)
    Items Gran Turismo 5Michelle MarshDoomid SoftwareCommodore 64Metal Gear Solid
    Achievements IT'S OVER 9000!
    when I first saw the word Keynesian I pronounced it "Key nesian"

  4. #4
    PSU Technical Advisor
    Vulgotha's Avatar
    Join Date
    Jan 2007
    Age
    24
    Posts
    15,953
    Rep Power
    144
    Points
    106,715 (0 Banked)
    Achievements IT'S OVER 9000!
    Quote Originally Posted by Morganator View Post
    Paul Krugman is a $#@!ing 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.


  5. #5
    Forum Sage

    Join Date
    Apr 2006
    Age
    31
    Posts
    8,415
    Rep Power
    102
    Points
    1,690 (0 Banked)
    Quote Originally Posted by Vulgotha View Post
    I'm normally not a man of extremes but I'm quickly approaching this conclusion.
    The most $#@!ed 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.

  6. #6
    Dedicated Member

    Join Date
    Mar 2009
    Location
    England, UK
    Posts
    1,385
    Rep Power
    51
    Points
    9,031 (0 Banked)
    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.

  7. Likes Ezekiel likes this post
  8. #7
    PSU Technical Advisor
    Vulgotha's Avatar
    Join Date
    Jan 2007
    Age
    24
    Posts
    15,953
    Rep Power
    144
    Points
    106,715 (0 Banked)
    Achievements IT'S OVER 9000!
    Austrian Economics, to me, is just common sense. Keynesians... To me their theory is like voodoo.


  9. Likes Ezekiel likes this post
  10. #8
    Veteran
    weskurtz81's Avatar
    Join Date
    Oct 2007
    Age
    33
    Posts
    4,845
    Rep Power
    74
    Points
    18,996 (0 Banked)
    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!
    "you are both the product and the architect of your environment"


  11. Likes Ezekiel likes this post
  12. #9
    Forum Sage

    Join Date
    Apr 2006
    Age
    31
    Posts
    8,415
    Rep Power
    102
    Points
    1,690 (0 Banked)
    Quote Originally Posted by Valefor View Post
    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.

  13. #10
    Dedicated Member

    Join Date
    Mar 2009
    Location
    England, UK
    Posts
    1,385
    Rep Power
    51
    Points
    9,031 (0 Banked)
    Quote Originally Posted by Morganator View Post
    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.

  14. #11
    Forum Sage

    Join Date
    Apr 2006
    Age
    31
    Posts
    8,415
    Rep Power
    102
    Points
    1,690 (0 Banked)
    Quote Originally Posted by Valefor View Post
    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.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
vBCredits II Deluxe v2.1.0 (Pro) - vBulletin Mods & Addons Copyright © 2010-2014 DragonByte Technologies Ltd.