I've Come To Bury Keynes
Is Keynesianism dying? Is it already dead? Conversely, maybe it's not even sick? Maybe it's actually the cure?
Look, I think you already know how I feel. The theories of Keynes have been utilized as a cover story for quasi-socialists and progressives for nearly 80 years. Do you want social welfare (Johnson, Obama)? More government spending! Do you want an expanding military/empire (both Roosevelts, Eisenhower, Reagan)? More government spending! Do you want corporatism and crony capitalism (Nixon, Clinton, Bushes)? More government spending! Do you want more power in the hands of the elites and less in the hands of the individual (the Fed)? More government spending! All in the name of the great John Maynard Keynes.
That this failed experiment is rapidly crashing should come as a surprise to no one. All we can do here is plan accordingly. For fun, however, here is a thought experiment. First, watch this brief video. It's about 10 minutes and the best parts are in the middle. Pay particular attention to the scrolling commodity prices at the bottom of the screen around the 4:30 mark and be sure to watch the FBN segment at around the 5:30 mark.
Now, follow that up with these two pieces. First, this article from Stephen Moore. I'm not a big fan of Mr. Moore as I think he's a political hack who only sees things through a prism of left vs right. However, outside of a few Reagan-apologist paragraphs, this is a well-written piece:
Having read that, you're ready for this final part of the experiment. Below is a video from last week of Stephen Moore "debating" some dude named Thom (clearly he's too smart to simply go by "Tom" like everyone else named "Thomas") Hartmann.
Again, please spend some time considering both sides of the Keynesian "argument". Just because I say that "the end is upon us" doesn't make it so. I could (gasp!) be wrong. You must research and consider the facts yourself. Come to your own conclusions. Act and prepare accordingly. TF
p.s. If there really is going to be a CFTC meeting tomorrow to discuss position limits, do not be surprised to see some EE shenanigans overnight. The Forces of Darkness may want to "remind" the commission just who really is in charge...