The G20 has lost the plot

[PM-Junkie]

Sas's vote for idiot of the day....spot on I would say.

[suityou01]

PM'd Chris79 a few times. Proper nice bloke. HTH

[bobhope]

Populist nonsense for simpletons.
Don't bother your tiny brain cell with economics.

In fact, as Keynes showed, a country (it's businesses, government and people) HAS to spend its way out of recession.

Keynes' thing is really just a re-hash of the old biblical thing of seven years of plenty followed by seven years of famine, i.e. in good times you store up in preparation for bad times.

Unfortunately, governments only like to look at the borrow/spend bit of the deal, so it's doomed to failure.

[Solidec]

I am sick and tired of Keynesian Economic Theory.

NONE of his theories have been proven.

Because unless you can track the timeline in a parallel universe that did NOT apply Keynes's theories, you can't say whether it helped or hindered.

The Great Depression tried Keynes' approach and it took a world war 15 years later to drag the world out of the economic doldrums. Keynesian tactics failed in the '30s.

From a basic common sense perspective Keynes pretty much advocates Inflating away the debt in all but name.

If you are not TRULY creating new wealth via tangible worthwhile products and services, you are basically pushing around funny money and devaluing everything.

[contractor79]

Keynes' thing is really just a re-hash of the old biblical thing of seven years of plenty followed by seven years of famine, i.e. in good times you store up in preparation for bad times.

Unfortunately, governments only like to look at the borrow/spend bit of the deal, so it's doomed to failure.

no the idea is in the good times you store up reserves and spend THAT in the bad times, not spend it all in the first good years then borrow in the next seven

[Cyberman]

Sas's vote for idiot of the day....spot on I would say.

You have to be idiot of the day for agreeing with the stupid fool !!

[OwlHoot]

s readers know, I always blamed the credit bubble on two forces.

Wrong.

Do you mean he's wrong to assume that readers know, for example because you're a reader and you didn't know, or that he hasn't always blamed the credit bubble on two forces, because you remember an article when he blamed it on something else, or that he has and readers know he has, but is wrong?

OH in "Sir Humphrey" mode

[realityhack]

g20 produces one trillion dollars from behind your ear

[sasguru]

I am sick and tired of Keynesian Economic Theory.

NONE of his theories have been proven.

Because unless you can track the timeline in a parallel universe that did NOT apply Keynes's theories, you can't say whether it helped or hindered.

The Great Depression tried Keynes' approach and it took a world war 15 years later to drag the world out of the economic doldrums. Keynesian tactics failed in the '30s.

From a basic common sense perspective Keynes pretty much advocates Inflating away the debt in all but name.

If you are not TRULY creating new wealth via tangible worthwhile products and services, you are basically pushing around funny money and devaluing everything.

Thank you O great economist. When do you pick up your Nobel?

[Solidec]

Thank you O great economist. When do you pick up your Nobel?

You are a real dick, possibly the most arrogant person posting on this forum.