President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs

Posted on February 9, 2009. Filed under: Blogroll, Books, Communications, Cult, Economics, Employment, Investments, People, Politics, Quotations, Rants, Raves, Regulations, Strategy, Taxes, Technology, Video | Tags: Affirmative Action Radical President, Bailouts, Barack Obama, Cargo Cult, Dick Armey, Economy, FDR, Hayek, Keynes, Keynes Spending Cult, Milton Friedman, Mises, Monetarism, Recession, Ron Paul, stimulus bill, stimulus package |

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”

~John Maynard Keynes

President Obama’s ignorance of economics and business history is stunning and is only matched by his arrogance in recommending a stimulus package and bailouts that will not work and will within two years lead to inflation rates from 25%-50%.

President Obama is destined to be a repeat of the Carter years, only much worse.

Any Democrat or Republican that votes for the stimulus package and future bailouts of banks, businesses, and states will rue the day that they failed to listen to those warning them that you do not know what you are doing–wrecking the US economy and destroying jobs.

If that is the real agenda of the FDRs they may succeed for a while.

The American people will remember in 2010 and 2012 and will vote out of office all those Democrats and Republicans that voted for this so-called stimulus package and future bailout bills.

The unemployment rate will hit 10% by July 2009.

Employment Situation Summary

“…Both the number of unemployed persons (11.6 million) and the unemployment rate (7.6 percent) rose in January. Over the past 12 months, the number of un-employed persons has increased by 4.1 million and the unemployment rate has risen by 2.7 percentage points. (See table A-1.) …”

http://www.bls.gov/news.release/empsit.nr0.htm

With over 14 million American unemployed in July, President Obama and the Congressional FDRs will then own the recession–Depression Obama Arrives–DOA!

The Affirmative Action Radical President (AARP) changes his tune from hope and change to doom and panic in three weeks.

Looks like the stress of the job is already getting to him.

What did you expect from one of the least experienced and qualified President elected in 100 years?

It is the typical policy of après nous le déluge. Lord Keynes, the champion of this policy, says: In the long run we are all dead. But unfortunately nearly all of us outlive the short run. We are destined to spend decades paying for the easy money orgy of a few years.

~Ludwig von Mises

Omnipotent Government, page 252

It was [Keynes’] revival of this underconsumptionist approach [long preached by cranks and radicals] which made his theories so attractive to the Left.

~Friederich A. Hayek

Collected Works, Vol. 9. p. 249

Cargo Cult

Big Government Is Not Stimulus: Why Keynes Was Wrong (The Condensed Version)

Obama’s So-Called Stimulus: Good For Government, Bad For the Economy

The Battle Between Keynes and Monetarism in the UK part 1

The Battle Between Keynes and Monetarism in the UK part 2

Dick Armey and Ron Paul Discuss Obama Stimulus Plans

Ron Paul: U.S. spends $1 trillion to maintain empire

GOP senators ‘caved in’ on stimulus, Dr. Paul says 2/7/2009

RNC Chairman – Government Jobs Aren’t Jobs

Vintage pro-inflation propaganda

Walter E Williams – Economics of Liberty

The Matrix “The choice of the the truth”

Background Articles and Videos

Keynesian Economics

“In economics Keynesianism (pronounced /ˈkeɪnziən/, also Keynesian economics and Keynesian Theory), is based on the ideas of twentieth-century British economist John Maynard Keynes. According to Keynesian economics the state should stimulate economic growth and improve stability in the private sector — through, for example, adjusting interest rates and taxation and funding public projects.

The theories forming the basis of Keynesian economics were first presented in The General Theory of Employment, Interest and Money, published in 1936.

In Keynes’s theory, some micro-level actions of individuals and firms can lead to aggregate macroeconomic outcomes in which the economy operates below its potential output and growth. Many classical economists had believed in Say’s Law, that supply creates its own demand, so that a “general glut” would therefore be impossible. Keynes contended that aggregate demand for goods might be insufficient during economic downturns, leading to unnecessarily high unemployment and losses of potential output. Keynes argued that government policies could be used to increase aggregate demand, thus increasing economic activity and reducing high unemployment and deflation.

Keynes argued that the solution to depression was to stimulate the economy (“inducement to invest”) through some combination of two approaches :

a reduction in interest rates.
Government investment in infrastructure – the injection of income results in more spending in the general economy, which in turn stimulates more production and investment involving still more income and spending and so forth. The initial stimulation starts a cascade of events, whose total increase in economic activity is a multiple of the original investment.^[1]

A central conclusion of Keynesian economics is that in some situations, no strong automatic mechanism moves output and employment towards full employment levels. This conclusion conflicts with economic approaches that assume a general tendency towards an equilibrium. In the ‘neoclassical synthesis’, which combines Keynesian macro concepts with a micro foundation, the conditions of General equilibrium allow for price adjustment to achieve this goal.

The New classical macroeconomics movement, which began in the late 1960s and early 1970s, criticized Keynesian theories, while New Keynesian economics have sought to base Keynes’s idea on more rigorous theoretical foundations.

http://en.wikipedia.org/wiki/Keynesian_economics

Fascism

“Fascism is an authoritarian nationalist ideology focused on solving economic, political, and social problems that its supporters see as causing national decline or decadence.^[1]^[2]^[3]^[4] Fascists aim to create a single-party state in which the government is led by a dictator who seeks unity by requiring individuals to subordinate self-interest to the collective interest of the nation or a race.^[5]^[6]^[7] Fascist governments permanently forbid and suppress all criticism and opposition to the government and the fascist movement.^[8]

Fascist movements oppose any ideology or political system that gives direct political power to people as individuals rather than as a collective through the state (liberalism, democracy, individualism); that is deemed detrimental to national identity and unity (class conflict, communism, internationalism, laissez-faire capitalism); that protects and enhances the power of “weak” people rather than promoting “strong” people (egalitarianism); that may oppose major changes to institutions and cultural values that it proposes (conservatism) and that undermine the military strength and military ambitions of the nation (pacifism).^[9]^[10]^[11] ^[12]^[13]^[14]^[15]^[16]^[17]^[18]

Fascist movements promote violent conflict between nations, political factions, races, and other groups of people as part of a social Darwinist and militarist view that conflict is a natural process and a part of evolution.^[19]^[20]

Following the defeat of the Axis powers in World War II, the term fascist has been used as a pejorative word. ^[21]

http://en.wikipedia.org/wiki/Fascism

Burning the midnight oil: The Sellout Amendment is here

By Michelle Malkin

“…The full, cave-in “compromise” porkulus amendment of GOP Sens. Collins, Specter, and Snowe finally arrived in my inbox tonight at 11:14pm Eastern.

So, your representatives of the “most deliberative body in the world” have barely a day to digest and debate the 778-page legislative text before rushing to vote on cloture Monday evening.

Like Dave Ramsey says: “Desperate always reap stupid.”

I’m uploading the whole thing for you so you can see it, too.

Click here for PDF file.

Get out your hip-waders.

Highlights coming. …”

http://michellemalkin.com/2009/02/07/burning-the-midnight-oil-the-sellout-amendment-is-here/

Jim Rogers – Super-inflation to come worldwide

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