Keynesian Liquidity Trap: *already* bailout NOT working!
Question: Read this carefully, note the dateline–from today, this afternoon. Even with the euphoria today over a bailout agreement (25th Sep, Thursday) the banks are not lending to each other and Libor is creeping back up.
What if they threw a bailout and nobody showed up to lend?
A classic Keynesian liquidity trap, and now the Keynesians will find out, the hard way, like Japan found out in the 1990s, that throwing money at bad banks will not solve anything.
Got gold?
Answer: keynes never advocated pampering the rich. keynes advocated giving the money to those who needed it most, and would spend it wisely on needed products made in america, that is, the little guys. this is a conservative initiative, that is trying to stampede the congress by fear. its a ayn rand trap. its what alan greenspan, and ronald reagan did in 1987, bail out the, “libertarian/conservative free market warriors, the self reliant, self responsible, rugged individuals, born with a silver spoon in their mouths as they pull themselves up by their own bootstraps with tax payer dollars, hogging at the troughs of tax payer money, will not cure a thing.” what you need to know is that the free marketters that run america, are disciples of ayn rand libertarianism. ayn rand preached social darwinism, and selfishness, so, should we be surprised that the people who believe that crap, are now going to let themselves be destroyed, or are they going to survive? of course they believe in their own survival and selfishness above all others. reagan, and greenspan proved it. no surprise to me. so the austrians will deflect, distract, and distort, all of their policies, lead to what we have today. now they blame others such as keynes, who never advocated throwing money at the wealthy, he was appalled by that, and said it was a waste.
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