Are the current U.S. fiscal and monetary policies a ticket into the grave? | Print |

Are the current U.S. fiscal and monetary policies a ticket into the grave?

"Applying this Keynesian philosophy to this particular crisis seems like a recipe for disaster. It’s an alcoholic philosophy on how to spend money that you don’t have, so you buy yourself a new car, a furnished house and closet full of clothes so you’ll be ready for that new job when “they” call and thus allowing you to pay off all this new debt. Of course, you haven’t even bothered to apply for the first job, much less, get an interview. So, you just keep on, keeping on with your spending spree.

I’m not a big fan of theories especially as a guide for living my life, much less, for betting the farm on solving a series of poor choices that’s wrecked a nation. This theory is an indirect approach to solving economic problems or this crisis, which is rooted heavily in the art of guessing. With Keynesian, it sounds like you’re taking a shotgun-blast approach to solving this problem by first assuming that you’re aiming at the target and that some of your shot or all of it will hit the bull’s eye. I would expect the success rate for this kind of approach to be very low, requiring much time, lots of money and effort (many tries)..."

Enjoy!

Ted

Ted Burnett  Talk Show Host at The Ted Burnett Radio Show