Funny Quote 2130

Annie

Hmm, as opposed to the way in which those same lambie-poos buy today's snake-oil concerning the necessity of their economic brutalization, including the THEFT of public funds in privatization?

...such as the IATA and FAA, which together ensure that when you fly, the plane's mechanics and pilots follow the rules, and don't bend them in order to cut costs?

Have you read the General Theory? I've read Keynes and Hayek both. Have you?

Keynes in fact shows that much of the talk about the virtue of "saving" rests upon a fallacy, that today's consumption guarantees tomorrow's spending.

This lie was used to justify the Bush tax cut, which has BRUTALIZED the public sector in the USA without creating private investment in the USA.

Keynes showed that the rich man won't necessarily seek the highest absolute return on his savings but in a situation of disinvestment will accept a zero or small negative interest rate because he sees in fact no opportunities to earn a large rate.

This situation obtained in the post dot.com boom in the United States. Venture capitalists, having been burned by profitless bullpoo including pets.com, simply sat upon their capital until last year.

When they got interested, not in investing in the USA but in investing in India and China.

The result? A public sector brutalized by lack of funds and former bond analysts with MBAs working at WalMart.

"Socialism", throughout the history of economics, has been in fact a healthy inoculation of exogenous force into an economy which absent force tends, as Keynes remarked, to a Dark Age of no or low investment.

"Socialism" in ancient China consisted in fact of equitable taxation and protection of peasant land tenure which made ancient China a highly productive society towards which Europeans were drawn.

Any market has a boundary and that boundary is constructed by predominant force. Only in America do people fantasize, behind the walls of American power, that this force does not exist.