cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board  

Go Back   cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board > non-Sports > Politics

Reply
 
Thread Tools Display Modes
Old 05-24-2016, 03:05 PM   #31
Archaea
Assistant to the Regional Manager
 
Archaea's Avatar
 
Join Date: Aug 2005
Location: The Orgasmatron
Posts: 24,338
Archaea is an unknown quantity at this point
Default

Quote:
Originally Posted by ChinoCoug View Post
Friedman's views on monetary policy are now consensus too. Will get to this later.
Yes, but he did not agree with Keynesian policy on fiscal issues. And perhaps I am mistaken, but I do not believe he accepted the "multiplier" fantasy.
__________________
Ἓν οἶδα ὅτι οὐδὲν οἶδα
Archaea is offline   Reply With Quote
Old 05-24-2016, 04:27 PM   #32
ChinoCoug
Senior Member
 
ChinoCoug's Avatar
 
Join Date: Jan 2006
Location: NOVA
Posts: 3,005
ChinoCoug is an unknown quantity at this point
Default

Quote:
Originally Posted by Archaea View Post
Yes, but he did not agree with Keynesian policy on fiscal issues. And perhaps I am mistaken, but I do not believe he accepted the "multiplier" fantasy.
The problem with Keynesian fiscal policy is that you're supposed to increase spending and cut taxes during recessions, and do the reverse during times of plenty. Politicians don't have the willpower to do the latter, resulting in huge deficits.

Unlike politicians, the Fed has the resolve to raise rates when they're supposed to and cut them when they're supposed to.

However, during the Great Recession we already maxed out on monetary policy. Interest rates were at 0%. We had quantitative easing what, three times?
__________________
太初有道
ChinoCoug is offline   Reply With Quote
Old 05-24-2016, 08:52 PM   #33
Archaea
Assistant to the Regional Manager
 
Archaea's Avatar
 
Join Date: Aug 2005
Location: The Orgasmatron
Posts: 24,338
Archaea is an unknown quantity at this point
Default

Quote:
Originally Posted by ChinoCoug View Post
The problem with Keynesian fiscal policy is that you're supposed to increase spending and cut taxes during recessions, and do the reverse during times of plenty. Politicians don't have the willpower to do the latter, resulting in huge deficits.

Unlike politicians, the Fed has the resolve to raise rates when they're supposed to and cut them when they're supposed to.

However, during the Great Recession we already maxed out on monetary policy. Interest rates were at 0%. We had quantitative easing what, three times?
And Europe introduced negative interest rates, which didn't fare to well.

The Keynesian fiscal philosophy has lots of operational problems. First, the multiplier has never been proven. It is not based on human behavior, which is what Adam Smith premised his predictions on.

The amount and timing of spending is never timely. Government is not a finely tuned machine and as a result the whole concept of Keynesian manipulation of the economy is a fantasy..
__________________
Ἓν οἶδα ὅτι οὐδὲν οἶδα
Archaea is offline   Reply With Quote
Old 05-26-2016, 07:22 PM   #34
Archaea
Assistant to the Regional Manager
 
Archaea's Avatar
 
Join Date: Aug 2005
Location: The Orgasmatron
Posts: 24,338
Archaea is an unknown quantity at this point
Default

Hillary eviscerating the 2d Amendment through bad Supreme Court appointments is a nightmare I am having.

She has stated Heller was wrongly decided in her infinite wisdom and knowledge.
__________________
Ἓν οἶδα ὅτι οὐδὲν οἶδα
Archaea is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 02:22 PM.


Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.