Painted Into A Corner By Lies and Bullshit

U.S. debt:

True Keynesian policy is counter-cyclical, not secular (continuous).
Only a fucking moron borrows continuously:

I keep reading about the failure of "Keynesian" economics in this era. It's the all-important false narrative designed to divert attention from the real root cause of this fiasco which is out-of-control corporate greed and the junk philosophy of Ayn Rand's 'Rational Self-interest' taken to its logical self-cannibalizing dead-end.

Here are the asinine ideas of today that Keynes never endorsed:

1) Running trade deficits for 35 years straight 

2) Running fiscal deficits for 35 years straight compounding debt at 10% annually

3) Bailing out Wall Street 100 cents on the dollar after they collapsed the global financial system 

4) Printing money to buy stocks to enhance the trick-down wealth effect from billunaires

5) Using the money supply to inflate a housing bubble under the auspice of the 'wealth effect'

6) Outsourcing the entire economy to China and then wondering why there are no real jobs

7) Cutting taxes for the ultra-wealthy

8) Destroying other countries to stimulate the economy

Most notably, however, Keynes realized that there were inherent limitations to monetary policy in a deeply deflationary environment, which is why he developed the theory of a liquidity trap.

Keynes Predicted that Monetary Policy Is a Dead-End

"A liquidity trap is a situation, described in Keynesian economics, in which injections of cash into the private banking system by a central bank fail to decrease interest rates and hence make monetary policy ineffective. A liquidity trap is caused when people hoard cash because they expect an adverse event such as deflation, insufficient aggregate demand, or war. Common characteristics of a liquidity trap are interest rates that are close to zero and fluctuations in the money supply that fail to translate into fluctuations in price levels"

If Keynes made one mistake it was not foreseeing the sad lengths of Ponzinomic desperation on display today, all just to prop up a handful of obscenely wealthy billionaires who would otherwise be millionaires. And the lies that would be used to justify the entire operation.