Stuff that we know. - Hallo friendsTHE LEK NEWS, In the article you read this time with the title Stuff that we know., We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article culture, Article economy, Article health, Article healthy tips, Article news, Article politics, Article sports, We write this you can understand. Alright, good read.

Title : Stuff that we know.
link : Stuff that we know.

Stuff that we know.

E.g., WWII “ended the Depression.”

Paul Krugman calls for a faked alien invasion to get the government to spend even more money it doesn’t have. This is based on the erroneous idea that “World War II ended the depression”, i.e. that the depression was ended by a version of war communism. The US economy was essentially transformed into a command economy during the war – GDP certainly soared, and yet, there was rationing of even the most basic consumer goods, never mind “luxury items” such as cars! In reality it was the fact that Congress repealed large swathes of Roosevelt’s “New Deal” in 1946 that got the economy back on its feet. The erroneous notion that “war is good for the economy” is highly popular with economic illiterates who fail to grasp the principles explained in Bastiat’s famous fable of the broken window . . . .^[1]

Mr. Tenebrarum is unfair to Prof. Krugman who said said if we discovered a threat from space aliens and engaged in deficit spending and inflationary policies then our current slump would be over post haste. He didn’t call for it but he does think acting as though there were such a threat would be beneficial. Clearly he believes spending on WWII is what got us out of the Depression of the 1930s. Good then. Good now.

Anyway, I didn’t know that about repealing lots of New Deal legislation. I did know that Congress didn’t waste a lot of time after the war reducing sky-high income tax rates. Which Ocasio-Juarez would like to bring back. Such is the economic genius of one so young.

Keynesians in action.

Notes
^[1] Comment by Pater Tenebrarum on "Washington's Latest Match Made In Hell." By M.N. Gordon, ZeroHedge, 1/12/19 (emphasis added).

Thus Article Stuff that we know.

That's an article Stuff that we know. This time, hopefully can give benefits to all of you. well, see you in posting other articles.

You are now reading the article Stuff that we know. with the link address https://theleknews.blogspot.com/2019/01/stuff-that-we-know.html

Tweet

Subscribe to receive free email updates: