#742. To: wry guy, FunkyDan, F.A. Hayek Fan (#683)
MUD: "I'm with you to an extent, but it's quite Keynesian..."
"Screw Keyes, Mud. I met the guy. He's a 5'6" egomaniac & a black one at that, worst kind. So full of himself I could hardly beleive what I was seeing/hearing."
Heh heh heh...no wonder folks call you "Funky Dan", 'Dru...LOL!!
I wasn't talkin' 'bout Alan Keyes, whom I genuinely like and respect, I was talkin' about "John Maynard Keynes", the Progressive/Marxist/Leftist who FDR relied on to justify his MASSIVE expansion of Federal Guv'ment POWER!! Yeah, buddy, it's the same friggin' RAT-bastard who Glenn Beck's been focused on lately.
John Maynard Keynes, 1883-1946.
John Maynard Keynes is doubtlessly one the most important figures in the entire history of economics. He revolutionized economics with his classic book, The General Theory of Employment, Interest and Money (1936). This is generally regarded as probably the most influential social science treatise of the 20th Century, in that it quickly and permanently changed the way the world looked at the economy and the role of government in society. [And it's all a buncha Progressive Marxist RAT-Propoganda...Keynes is even more EVIL than those Envirowhacko RAT-scientists who LIED about Man-Made Global Warming!!] No other single book, before or since, has had quite such an impact. [BullKRAP...consider the source...]
The son of the Cambridge economist and logician John Neville Keynes, John Maynard Keynes was bred in British elite institutions - Eton and then King's College Cambridge. In 1906, he entered the British civil service for a little while, and then returned to Cambridge in 1909.
Three life-long connections were made during this time. Firstly, Keynes would remain a fellow of King's College, Cambridge. Secondly, he became the editor of the Economic Journal in 1911, a position he would hold almost until the end of his life. He also fell in with the "Bloomsbury group", a collection of upper-class Edwardian aesthetes such as Virginia Woolf, Clive Bell and Lytton Strachey, which would serve as his "life outside of economics".
His first book on Indian currency (1913) was directly related to his experience at the India office. From 1914 to 1918, J.M.K. was called to the UK Treasury to assist with the financing of the British war economy. He excelled at his job and the influence he gained earned him a position with the British delegation to the Versailles Peace Conference in 1918. J.M.K was appalled at the vindictive nature of the peace settlement, and was particularly opposed to the devastating consequences of the heavy "reparations" payments imposed on Germany. He resigned from the conference and published his Economic Consequences of the Peace (1919), denouncing the Treaty of Versailles and bringing him into the public spotlight.
After returning to Cambridge, Keynes published his Treatise on Probability (1921), where he dismantled the classical theory of probability and launched what has since become known as the "logical-relationist" theory of probability. [LIES! LIES! LIES!] Keynes's work caused something of a stir, arousing the young Cantabrigian logician, Frank P. Ramsey, to outline his own "subjective" theory of probability.
In 1923, Keynes published his Tract on Monetary Reform (1923), which was his contribution to the Cambridge cash-balance theory of money, then being developed by other Cambridge economists, Alfred Marshall, Arthur C. Pigou and Dennis H. Robertson. It was also in a 1923 newspaper article that he first proposed his "normal backwardation" theory of hedging and speculation.
Throughout the 1920s, Keynes remained active in public policy debates, channeled mainly through his numerous articles in the Nation and Atheneum, a Liberal-Labour weekly magazine which he helped purchase in 1923 (it was absorbed by the New Statesman in 1931). The best of Keynes public policy writings was collected in his Essays in Persuasion (1931). He was on the forefront of the battle against returning Britain to the gold standard on a pre- war parity (e.g. 1925). This led him to author two famous pieces in condemnation of laissez-faire economic policy (1925,1926). In 1929, he wrote an election pamphlet with Hubert D. Henderson advocating the use of public works to reduce unemployment and condemning the Treasury's fear of "budget deficits". [Folks, this scumbag seems to be the ROOT OF ALL LEFTIST/PROGRESSIVE/TYRANNICAL EVIL...LOL!!] In 1929, he also entered into a small debate with Bertil Ohlin and Jacques Rueff on German reparations problem. He also found time to marry the Russian ballerina, Lydia Lopokova in 1925. (To the EffeteElite RAT-bastards go the spoils, I reckon...GRRR!!)
In 1930, John Maynard Keynes brought out his heavy, two-volume Treatise on Money, which effectively set out his Wicksellian theory of the credit cycle. In it, the rudiments of a liquidity preference theory of interest are laid out and Keynes believed it would be his magnum opus. His bubble was soon pricked. Friedrich von Hayek reviewed the Treatise so harshly that Keynes decided to set Sraffa to review (and condemn no less harshly) Heyek's own competing work. The Keynes-Hayek conflict was but one battle in the Cambridge- L.S.E. war.
The Treatise also led to the formation of a reading group, known as "the [Marxist] Circus", composed of the young Cambridge economists Richard Kahn, Joan Robinson, Austin Robinson, James Meade and Piero Sraffa. Kahn dutifully delivered reports of the [Marxist] Circus's discussions to Keynes, who subsequently began revising his ideas. One resulting criticism of the Treatise was that it failed to provide a theory of the determination of output and employment as a whole -- a particular pertinent question given the huge amount of unemployment at the time.
The key was provided to Keynes in a short article by Richard Kahn (1931) -- the theory of the income-expenditure multiplier -- which was to be the basis of his future revolution. Already in a few 1933 articles and pamphlets, Keynes began announcing the new idea, and began submitting the drafts of his new book to the [Marxist]Circus and several fellow economists for review and dissection. His ideas on the marginal efficiency of investment took a little longer to work out.
In early 1936, the new book finally came out with the pretentious title of The General Theory of Employment, Interest and Money. Heavily anticipated, cheaply priced and propitiously timed for a world caught in the grips of the Great Depression, the General Theory made a splash in both academic and political circles. As one American politician put it, everyone always knew that the economic policies recommended by the Neoclassical economists were bad policies; but now they realized it was also bad economics.
With the General Theory, as it became known, Keynes sought to develop an theory that could explain the determination of aggregate output - and as a consequence, employment. He posited that the determining factor to be aggregate demand. Among the revolutionary concepts initiated by Keynes was the concept of a demand-determined equilibrium wherein unemployment is possible, the ineffectiveness of price flexibility to cure unemployment, a unique theory of money based on "liquidity preference", the introduction of radical uncertainty and expectations, the marginal efficiency of investment schedule breaking Say's Law (and thus reversing the savings-investment causation), the possibility of using government fiscal and monetary policy to help eliminate recessions and control economic booms. Indeed, with this book, he almost single-handedly constructed the fundamental relationships and ideas behind what became known as "macroeconomics".[Too bad the Commie RAT-bastard got it all WRONG...IDIOT LEFTISTS/STATISTS/PROGRESSIVES!!...sheeesh]
The Keynesian Revolution split the economics world in two generations: the young climbed over themselves to line up behind Keynes; the old rallied to condemn it. John Maynard Keynes responded to his most able critics -- Jacob Viner, Dennis Robertson and Bertil Ohlin -- in a series of 1937 articles, which helped him to expand upon some key aspects of his theory. A densely-written and difficult book, it was followed up immediately by elucidatory publications by the members of Keynes's Circus, such as Joan Robinson, and young economists elsewhere in Britain, such as Roy Harrod and Abba Lerner.
Of particular importance was the 1937 article by John Hicks which introduced the "IS-LM" representation of Keynes's theory that launched the "Neoclassical- Keynesian Synthesis" that was to pervade in America (and elsewhere) as the dominant form of macroeconomics in the post-war era, particularly in the 1950s and 1960s. However, the so-called "Cambridge Keynesians" -- which included veterans of Keynes's Circus, such as Joan Robinson -- and their American cousins, the Post-Keynesian school, would dispute the "Synthesis" twist on the Keynesian Revolution. They posited up their own versions of the theory, which, they argued, was more faithful to Keynes's original message.
Keynes's health collapsed circa 1938, and, consequently, he ducked out of the debate which was then raging. When World War II broke out in earnest, Keynes re-emerged and published his 1940 pamphlet, How to Pay for the War. In that small tract, he identified the "inflationary gap" created by resource constraints during the war effort, and promoted the device of "compulsory saving" and rationing to prevent price inflation, proposals that were adopted in 1941. The 1940 piece is notable for it provided the seeds of a theory of inflation to complement the "depression economics" of the General Theory.
During the course of the war, Keynes was at the Treasury and set himself to think about the post-war economic order. In 1938, he had warmed up to Benjamin Graham's proposals for an international "commodity-reserve" currency to replace the Gold Standard. In 1943, Keynes forged his ideas for "Bancor", a proposal for an international clearing union. In consultation with the Americans, Keynes eventually relented on his idea and accepted the American "White Plan" for an international equalization "fund" held in the currencies of the participating nations. However, several essential aspects of Keynes's clearing union idea were incorporated."
In 1944, Keynes led the British delegation to the international conference in Bretton Woods where the details of the system were hammered out. The American "White Plan" was accepted, countries would retain fixed exchange rates against the dollar, while the dollar itself would be matched to gold. Two institutions, the International Monetary Fund (IMF) and the World Bank (IBRD), were created to oversee the new international monetary system.
All these exhausting official missions and work taxed Keynes's already precarious health. He died in 1946, soon after arranging the guarantee of an American loan to Great Britain."
I reckon you know all about this EVIL RAT-scumbag LOSER, eh HayekFan?
Regards...MUD
Devolve Power Outta the Federal Leviathan and Back to the States, Localities, and Individuals as Prescribed in the U.S. Constitution!!
Letters to the Editor Richmond Times-Dispatch Box 85333 Richmond, VA 23293 Attn.: Mr. Ross Mackenzie Fax #(804)775-8090
Re: "What Happened To All The Good Protest Songs?"
Editor, Times-Dispatch:
To quote the Honorable Robert H. Bork, "The [1968 Left-Wing] radicals, expecting stern opposition, were astounded by, and contemptuous of, the universities' rapid surrender. They learned that ours is a soft culture with a bad conscience; MORAL INTIMIDATION WORKS! (emphasis mine)" The Radical Left/Liberal Movement has arrogantly, yet disingenuously, assumed the mantle of moral superiority, and good patriotic Americans have been meekly kowtowing to their paternalistic demands for the last 35 years!
Historians will validate that the 1992 Presidential Election will prove to be the Left's most glorious triumph, as an unabashedly sexually-deviant, draft- dodging, morally-repugnant, pot-smoking fiend assumed the most powerful political office on earth. However, Bill Clinton and his Vile Administration, so utterly lacking in basic character and moral underpinnings, will prove to be the Left's Waterloo, as Slick Willie dramatically exposes the hypocrisy of the Liberal Lie to ever-increasing numbers of American voters. The Democrats have already lost both Houses of Congress and over a dozen Statehouses, long-time Democrats have abandoned the Party in droves, and Conservatives/Libertarians have been emboldened to act with a passion reminiscent of Liberals from a bygone era. All we are missing now are a few good old-fashioned Right-Wing protest songs...
Thank you, Slick Willie! Lib'ral DemonRATS, bending over backwards in defense of your corrupt Presidency, have abandoned all claims on moral superiority, exposing the Effete Elite as the self-serving Power mongers they have been all along! And the best is yet to come...for those Democrats who hold too long to the Clinton line, we will witness historic Republican gains come November ?00. Then, we get to go after Ol' Billzabubba with Impeachment III--Impeachment II is happening within the next six months! With all due respect, Mr. President, you're soon to be yesterday's news!!
Quite Sincerely,
Mudboy Slim (08/19/1999)
Devolve Power Outta the Federal Leviathan and Back to the States, Localities, and Individuals as Prescribed in the U.S. Constitution!!
A widely-circulated email from a co-worker...pass it on...
"THANK GOD FOR BARACK OBAMA!!"
"He destroyed the Clinton Political Machine - Driving a stake thru the heart of Hillary's Presidential aspirations - something no Republican was ever able to do. Remember when a Hillary Presidency scared the daylights out of you!
He killed off the Kennedy Dynasty - No more Kennedy's trolling Washington looking for booze and women wanting rides home. American women and Freedom are safer tonight!
He is destroying the Democratic Party before our eyes!
Dennis Moore had never lost a race - quit
Evan Bayh had never lost a race - quit
Byron Dorgan - had never lost a race - quit
Harry Reid - bid for re-election doesn't look good
These are just a handful of the Democrats whose political careers Obama has destroyed! By the end of 2010 dozens more will be!
In December of 2008 the Democrats were on the rise. In the last two election cycles they had picked up 14 senate seats and 52 house seats. The press was touting the death of the Conservative Movement and the Republican Party.
In one year Obama put a stop to all of this and will probably give the House, if not the Senate, back to the Republicans.
He has completely exposed liberals and progressives for what they are. Every Generation seems to need to relearn the lesson on why they should never actually put liberals in charge. He is bringing home the lesson very well!
Liberals tax, borrow and spend - check
Liberals won't bring themselves to protect America - check
Liberals want to take over the economy - check
Liberals think they know what is best for everyone - check
Liberals aren't happy till they are running YOUR life - check
He has brought more Americans back to conservatism than anyone since Reagan
In One year he rejuvenated the Conservative movement and brought out to the streets millions of Freedom Loving Americans
Name me one other time in your life that you saw your friends and neighbors this interested in taking back America!
In all honesty one year ago I was more afraid than I had ever been in my life. Not of the economy but of the direction our country was going. I thought Americans had forgotten what this country was all about. My neighbors, friends, strangers proved to me that my lack of confidence of the Greatness and Wisdom of the American people was flat out wrong.
When the American People wake up, no smooth talking teleprompter reader can fool them!
Barack Obama woke up these Great Americans
Again, I want say Thank You Barack Obama!"
WooHOOO!! The RAT-Messiah ROCKS...MUD
Devolve Power Outta the Federal Leviathan and Back to the States, Localities, and Individuals as Prescribed in the U.S. Constitution!!
How do you figure Rotara and Samuel Gray are "Obamabot MORONS"? I know Rotara personally and know he has no use for Obama and I also know he is not a moron. I don't know Samuel Gray but I know he is no friend of Obama and can tell from his posts that he is most certainly not a moron. Just because people don't worship whatever particular politician you like does not mean they worship the one you hate (or dislike if hate is too strong a word).
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
Pud's in denial. He can't admit he sucks, so he externalizes his suckage and instead attacks others and mischaracterizes them as politically ideological enemies, when, in fact, he's generally disliked because he's a virulently, exuberantly aggressive moron with not an iota of talent (slobberator's statement at LP notwithstanding).
Furthermore, he mischaracterizes what he's doing as 'patriotic', which is akin to considering "neener neener neener" as cogent debate.
I dislike him because he's an idiot, a buffoon who somehow believes spamming six forums with his pathetic dribblings is a significant blow against the forces dismantling the republic, when in fact, his crap is detrimental to the cause of liberty, if there exists one anymore.
By trivializing it as he does, he diminishes the importance of how bad it really is, while painting the opposition to Obama as a bunch of clowns.
There's not a dime's worth of difference between him and yuktard. Both have the political acumen and intellect of your average kindergartner and similar 'debating' skills.
We'll just have to agree to disagree on that. Not saying I am in lockstep agreement with him (or anyone) but his posts indicate a higher level of intelligence than you give him credit for.
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
Not if your song parodies are any indicator. They demonstrate an almost breathtaking shallowness of thought and a near-complete absence of underlying intellect.
As for you and the Richmond editor going way back, I'm sure it's on par with some local kook who spends years writing idiotic shit to newspapers and who gets published for laughs. Either that, or political discourse in Virginia has declined precipitously since the days of Patrick Henry.
I hope your new congresscritter (the Democrat) puts you on some sort of watch list and you start to get visits. You may be becoming dangerous.
Why are you asking me idiotic stuff like that? I already told you that I know the poster who posts under the name Rotara. I also told you that he is NOT effeminate. If that isn't good enough for you I am afraid I can't help you.
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
WHATCHA SCAIR'T OF, girleyman? LOL...you don't have to post the answer, we already know...
Yer SCAIR'T of MUD...and fer good reason...MUD
BTW...BWAHAHAHAHAHAHAHAHA!! Yer such an Obamabot BITCH!! ROFLMAO!!
Hey wudidiz, have you EVER seen such a gutless WUSSY posting on a public Forum?! It's hilarious to the folks I ping to this thread...EVERYBODY I know is literally SHOCKED that Rotara ain't a silly RAT-TROLL CHICK...LOL!!!
You gotta LOVE the internet...
Devolve Power Outta the Federal Leviathan and Back to the States, Localities, and Individuals as Prescribed in the U.S. Constitution!!
"I already told you that I know the poster who posts under the name Rotara. I also told you that he is NOT effeminate."
LOL...JimmieDee, that's why yer known as "NOT-TOO-BRIGHT" amongst folks HOO are much brighter than you, my friend...yer easily FOOLED, by ALL accounts...MUD
BTW...not that there's anything WRONG with being STOOOPID, but you'd be well- advised to keep yer yap shut in the future, my friend.
Devolve Power Outta the Federal Leviathan and Back to the States, Localities, and Individuals as Prescribed in the U.S. Constitution!!
LOL...JimmieDee, that's why yer known as "NOT-TOO-BRIGHT" amongst folks HOO are much brighter than you, my friend...yer easily FOOLED, by ALL accounts...MUD
BTW...not that there's anything WRONG with being STOOOPID, but you'd be well- advised to keep yer yap shut in the future, my friend.
uh huh. Guess we all can't be as smart as you. BWAHAHAHA!!!
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
Are you crazy? You sound like you need some medication and the sooner the better. In what world is it "unanimous" that Rotara is what you claimed? What color is the sky on your home planet?
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
Now yer realizing yer place on this Forum, my friend...just sit back and enjoy the view, JimmieDee, yer obviously waaay beyond yer limits of comprehension, my friend.
Than again, being blatantly NAIVE ain't a Capital Offense...MUD
Devolve Power Outta the Federal Leviathan and Back to the States, Localities, and Individuals as Prescribed in the U.S. Constitution!!
I think it's time to make a call or two. You've been threatening to start shit at town hall meetings with this new democrat. I'd love to see you getting perp walked on Fox News. It'd be worth it to fuck with your life for the pure sport of it.
Maybe they'll put you in a holding cell with a brutha who's hung like a fire hydrant and we'll see "HOO's" bitch you are then. Bitch. Then you'd be Jason "Cournehole".
You're not really 'messing' with anyone. Were you to speak in person to any of us as you do on here, the only thing that would beat your dying ass to the hospital would be the headlights of the ambulance.
_________________________________________________________________________ "This man is Jesus, shouted one man, spilling his Guinness as Barack Obama began his inaugural address. When will he come to Kenya to save us?
The best and first guarantor of our neutrality and our independent existence is the defensive will of the people and the proverbial marksmanship of the Swiss shooter. Each soldier a good marksman! Each shot a hit! -Schweizerische Schuetzenzeitung (Swiss Shooting Federation) April, 1941
"Were you to speak in person to any of us as you do on here, the only thing that would beat your dying ass to the hospital would be the headlights of the ambulance."
ROFLMAO!! Yeah, right, yer effeminate arse is gonna teach me a lesson, eh?!
BWAHAHAHAHA...ObamaBotulism on display fer all to see, I reckon...LOL!!
Devolve Power Outta the Federal Leviathan and Back to the States, Localities, and Individuals as Prescribed in the U.S. Constitution!!