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December 31, 2016

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Rollie Taylor

My question is where is the high inflation that should have occurred given the massive spending and negligible interest rates of the last 8 years? It seems that the Keanesian economics model is broken. The Obama economic policy has resulted in virtually nothing except the enrichment of Wall Street traders and investors. At least until it all comes crashing down.

john jay

rollie:

what do i look like? a stanford university economics professor? in direct answer to your question, how the hell should i know?

in response to you assertion that obama's policy made wall street guys richer, ... , i didn't know that he had a policy. and, if a crash comes, it will not come until the wall street guys have skimmed the money off the top of the market, and made themselves another little lily pad to land on. they always seem to. so, they'll still be rich, and they always avoid going broke. most of 'em.

now, to be serious for a moment. keynes was not an enemy of massive government nor of massive governmental intervention and spending to control and boost the economy. he would reply to your assertions & predictions of ruin by noting that your several automobiles, nice cozy little house, and fishing boats and outboard motors are clear evidence of prosperity. not to mention all the salmon in the freezer. he would further note that economics is a science to be manipulated by those who know about such things, and that all of us who posit "the sky is falling" really don't understand how things work.

he'd say: hey, you got pin money, you got eats and a warm place to sleep, so what are you complaining about? (not to mention filson coats, and such like.)

as for me, i don't have that much imagination. i am sort of a "ledger book" sort of economic thinker, and it seems to me that sooner or later "the chickens have got to come home to roost" on this spending, personal and/or governmental, that is made without funds to cover it in the bank. in a nice little pile, from where it gets transferred in an orderly fashion to another little where it belongs.

you know, to where accounts are "squared." with money. not with empty promises.

of course, the academicians are always right, and those of us who are concrete thinkers are always wrong, right up to the point where it all comes crashing down.

right on top of our little heads, where the chickens are sitting, after coming home. and, all that sort of thing.

john

p.s. when are you gonna have some more pups to sell? or, did that last litter not make expenses? i'd gladly give you an unsecured promissory note for some time in the future, suitably distant, for a nice little pup (pick of the litter) today. my economic policy. we'll call it, the scare the chickens away policy.

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