Josh Marshall: A short comment on Keynes

[GillesDeleuze]

"Since we're talking about Keynes today and the new Era of Austerity, which I fear is quite real, I thought I'd put in my two cents. There seems little doubt that Keynes has taken a mighty hit. But my read of the situation is that the hit is almost entirely in the realm of politics rather than economics."

http://talkingpointsmemo.com/archives/2011/07/a_short_comment_on_keynes.php?ref=fpblg
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Manufactured crisis is manufactured politically, by the republicans with aide from conservative dems.

[dkf]

1. The rating agencies made it a big deal.

Then again we are talking about the national debt which ties directly into bonds.

[GillesDeleuze]

2. We are letting London financial institutions dictate policy.

What if bond holders revolted against ratings agencies instead of governments (which are going nowhere)

[jtuck004]

5. We are talking about rating agencies that operate somewhat like prostitutes. (No offense to

prostitutes, whom I hold in much higher regard. That's a very hard way to put a roof over your head.).

These agencies aren't even discriminating, having already proven they are for sale to the highest bidder. Whoever profits from their work, (not necessarily the American Taxpayer just by default), is probably who they are working for. And if that means mostly the financial sector and the wealthy (who may pay less in taxes than some low-paid immigrants), who seem intent on turning this little serfdom into a source of interest payments regardless of the fact that it injures our national security and is reasonably seen as treasonous, well, then, those businesses are their pimps (pimps I'm not usually too fond of. They remind me of of the CEO's of large companies).

[Doctor_J]

3. Keynes has taken a hit?

Why? the US has been working under Keynes' antithesis, and in so doing collapsed. Seems to me Keynes has been validated

[GillesDeleuze]

4. right, josh makes the political/economic division clear

keynes works economically, but politics doesn't care.