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Most Austrian economics ideas were mainstream before
Posted on: September 9, 2016 at 10:43:18 CT
JeffB MU
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Keynes' new ideas became so attractive to politicians who were promised that they could have their cake and eat it too. The more his fatally flawed ideas have been implemented the more deleterious the effects have been.
The Federal Reserve was spawned in 1913 and within 16 years we had the onset of the Great Depression. We have had repeated bouts of recessions, inflation and financial crashes ever since. They were able to paper over the problems with Fed intervention for a long period leading up to the Financial Crash of 2008, which was the result of their idiotic policies, but they had to go to absolutely absurd levels to try and keep the entire world economy from collapsing and we have never recovered despite the trillions pumped into the economies.
Unfortunately, that has resulted in an unprecedented misallocation of assets ever since and has hollowed out our economy, just like companies that look good on paper because their accountants are cooking the books, but it all collapses in catastrophic fashion when the truth inevitably comes to light, we are in for a horrible day of reckoning.
If interested in how we got to this point, I would recommend G. Edward Griffen's book, The Creature From Jekyll Island. You can download or read it from that link, and it is also available at most libraries. It has a ton of historical information on how the banking cabal was able to wrest control of our nation's money into their own evil hands.
You can also see a talk he gave on the subject, complements of Youtube:
It is how the financial elite have been able to siphon off trillions from the world's citizens and allows them to have tremendous control over world governments.
The Federal Reserve was spawned in 1913 and within 16 years we had the onset of the Great Depression. We have had repeated bouts of recessions, inflation and financial crashes ever since. They were able to paper over the problems with Fed intervention for a long period leading up to the Financial Crash of 2008, which was the result of their idiotic policies, but they had to go to absolutely absurd levels to try and keep the entire world economy from collapsing and we have never recovered despite the trillions pumped into the economies.
Unfortunately, that has resulted in an unprecedented misallocation of assets ever since and has hollowed out our economy, just like companies that look good on paper because their accountants are cooking the books, but it all collapses in catastrophic fashion when the truth inevitably comes to light, we are in for a horrible day of reckoning.
If interested in how we got to this point, I would recommend G. Edward Griffen's book, The Creature From Jekyll Island. You can download or read it from that link, and it is also available at most libraries. It has a ton of historical information on how the banking cabal was able to wrest control of our nation's money into their own evil hands.
You can also see a talk he gave on the subject, complements of Youtube:
It is how the financial elite have been able to siphon off trillions from the world's citizens and allows them to have tremendous control over world governments.
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I prefer credible experts, not biased leftist organizations(nm) - Ragnar Danneskjold MU - 9/9 09:49:22Most Austrian economics ideas were mainstream before - JeffB MU - 9/9 10:43:18