Forgot to mention: Like Communism, true Keynesian economics has never been tried, and for much the same reason. Each fails to take into account human nature. Real humans in a "communist paradise" will grub power and hoard resources whenever given a chance. Real humans running a "Keynesian paradise" economy will deficit spend when there's an excuse such as a recession or a war but they won't reduce spending below revenue in order to pay down debt and build up a surplus.
Mar 14, 2023·edited Mar 14, 2023Liked by Bill Quick
[International Monetary Fund - a sort of international financial fireman]
Some would say that the IMF is a fireman in the Fahrenheit 451 sense.
[meeting at a ski resort in New Hampshire in 1994]
Typo, I think. 1944?
I knew most of the stuff about Breton Woods and its piece-by-piece dismantling. The American negotiator being a commie spy had passed me by. Can't say as it surprised me, though. A sizable fraction of the US government from the 1930s to today have worked for the USSR, the PRC, or other masters aside from the American people and Constitution.
re the federal reserve, I differ somewhat with you. I'd say that it's doing exactly what was intended since 1914, serving as the master control in the hands of people who don't know what they're doing. Its legality was dubious from the start but its influence was hobbled for its first two decades, until the checks and balances of backing currency by gold were removed.
Forgot to mention: Like Communism, true Keynesian economics has never been tried, and for much the same reason. Each fails to take into account human nature. Real humans in a "communist paradise" will grub power and hoard resources whenever given a chance. Real humans running a "Keynesian paradise" economy will deficit spend when there's an excuse such as a recession or a war but they won't reduce spending below revenue in order to pay down debt and build up a surplus.
[International Monetary Fund - a sort of international financial fireman]
Some would say that the IMF is a fireman in the Fahrenheit 451 sense.
[meeting at a ski resort in New Hampshire in 1994]
Typo, I think. 1944?
I knew most of the stuff about Breton Woods and its piece-by-piece dismantling. The American negotiator being a commie spy had passed me by. Can't say as it surprised me, though. A sizable fraction of the US government from the 1930s to today have worked for the USSR, the PRC, or other masters aside from the American people and Constitution.
re the federal reserve, I differ somewhat with you. I'd say that it's doing exactly what was intended since 1914, serving as the master control in the hands of people who don't know what they're doing. Its legality was dubious from the start but its influence was hobbled for its first two decades, until the checks and balances of backing currency by gold were removed.