Brian Macker said...

Just browsing around for the name "LInah Abadneh" with regard to a climate article and I came upon your web site. This was the top article at the time and I thought it was ludicrous.

The idea that consumer spending is what drives the economy is a ludicrous invention of Keynesianism.
Says law is actually correct on this.

We are in trouble right now because the FED held interest rates below their market values for around 20 years now. That's the most important problem.

That predictably caused low savings, high borrowing, asset bubbles, and a large trade deficit.

Spending and bailouts and flooding the country with currency is not the answer.

Check out the difference between Keynesian and real economics here:
http://www.auburn.edu/~garriro/macro.htm

I'm not coming back to your blog to check on any response. You can get more information at www.mises.org website.

10:35 AM
Delete
Blogger Reliapundit said...

macker u iz a wacker!

1 - the fed raised rates from 2004-1007 (17 times) and that wsa MAJOR CAUSE of the crash.

they raised rates out of fear of inflation - a totally unbased fear.

2 - keynes didn't "invent" the idea that people buying things is a major driver of the economy.

it's just a fact,

wholesale purchases are less than retail.

look it up.

- the were two bubbles: real estate, and oil.

i predicted the date and dollar amount of the oil bubble burst at this blog.

i was the only one in the entire blogosphere to put it in writing, and i was right.

4 - the real estate bubble was caused by bad lending practices spurred by the CRA and Fannie Mae.

5 - the financial crisis was caused by the fannie mae paper - their deriviatives.

this was predicted by bush in 2003 and by greenspan and snow and paulson and mccain from 2003 through 2007.

the democrats blocked reform of fannie mae; therefore the democrats are chiefly responsible for the fannie mae fiasco and the ensuing financial meltdown.

5 - there is no such thiung as a "trade deficit" - the "trade deficit" is a heuristic device invented by anti-trade factions.
RELIAPUNDIT | Homepage | 11.28.08 - 11:14 am | #