Is Keynes the one where it's Spend Spend Spend?

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Changin' avatars like there's no tomorrow

Not really, no.

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

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Where there is great doubt, there will be great awakening; small doubt, small awakening, no doubt, no awakening.

Well not quite.

He says that in a depressed economy demand is depressed, therefore the private sector cuts supply and sheds workers to bring about a corresponding reduction in supply. Therefore it is necessary in a supply/demand economy for the government to intervene, by an injection of money into the economy, to stimulate demand.

It's a joy to watch right wing economists lies to themselves about the first and second points and make ridiculous claims that the money of the rich is better off in the pockets of the rich so they can use it to create more jobs.... even with reduced demand....

Keynes was a capitalist. He just addressed the shortcomings of the supply and demand free market.

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You may say I'm a dreamer.... but I'm not the only one....

I see.

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Changin' avatars like there's no tomorrow

Paradox of thrift.

There's a good example of this re Mitt Romney. His success in private equity probably bas a lot to do with cutting costs- more profit for the company, bingo. Do that with a national economy and not so good.

Was he? I've always thought he just got unlucky with the timing but that he was right to do it because there's no point in keeping gold reserves.

On the grounds that he could play Emma Boon's bowling with his bat upside down?

He did a load of rhubarb about Livingstone's oil deal with Venezuela. Never seen anything like it was about the worst. Called innovation when businessmen do it.

David Willetts on the Daily Politics just blamed the double-dip on "the mess we inherited."

According the New Statesman, Cameron used the line in PMQs



http://www.newstatesman.com/blogs/polit ... boils-over

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My blog: https://stevenplrose.wordpress.com/

Hate to come over as Mister logic: But doesn't the first dip inherit from the first.

I'm glad (Even though it is the New Statesman) that the press are starting to mock it.

Osborne said "the debts we built up in the good years".

Minute later "the biggest bank bailout in the world was in the UK"

Just to put things into perspective:

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Change does not roll in on the wheels of inevitability, but comes through continuous struggle.

Alexander's avoided the phrase so far on Newsnight.

He came up with underregulated financial sector under Labour though. What does he reckon Osborne and all wanted to do?

Hey, "enormous budget deficit we inherited" came up in the next answer he gave.