“We will not have any more crashes in our time.” - John Maynard Keynes in 1927and “… a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.” - HES, November 10, 1929and “All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” - President F.D. Roosevelt, 1933Great Depression 1929 Quotes & Statements <a class="user" href="http://myinvestorsplace.com/2009/05/10/great-depression-1929-quotes-statements/">http://myinvestorsplace.com/2009/05/10/great-depre ...</a>
I don't believe his ideas have ever stood up to real world data. There is ample evidence that every time they are tried, they fail: 1929-1930, Japan 1990s to present...etc. The only solution that has ever proven to work is the austrian model. But that was only ever successful on a small scale. The truth of the matter, is that as long as human beings create the system, any system, it will be flawed enough in some sense, that it will always end in a crash...However...not to support Keynes, but he also gets labeled inappropriately by his supporters and the press (gee, whats new?). Keynes idea was to save huge surpluses in the good years, to account for the huge deficits in the bad years. Of course, all Gov'ts have convenienty forgetting the first part of that equation. I'm pretty sure Keynes himself, if alive today, would tell you all this spending will fail miserably, due to our Govt's failure to keep a surplus after 2000.
Er.. I hope you're not talking about the dot com "boom"? Because that was a bubble, not a boom, and it was rightly predicted by Paul to be a bubble.
I'm sure you already know, but just in case you don't: the US government has once before in history confiscated the rightfully owned gold of the population at large, and there's no reason they wont do it again. They started with safety deposit boxes.
japfaceMay 16, 2009
that has to be the dumbest thing i've ever heard anyone say about the economy.
mrfunstuffMay 16, 2009
“We will not have any more crashes in our time.” - John Maynard Keynes in 1927and “… a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.” - HES, November 10, 1929and “All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” - President F.D. Roosevelt, 1933Great Depression 1929 Quotes & Statements <a class="user" href="http://myinvestorsplace.com/2009/05/10/great-depression-1929-quotes-statements/">http://myinvestorsplace.com/2009/05/10/great-depre ...</a>
dmm219May 16, 2009
I don't believe his ideas have ever stood up to real world data. There is ample evidence that every time they are tried, they fail: 1929-1930, Japan 1990s to present...etc. The only solution that has ever proven to work is the austrian model. But that was only ever successful on a small scale. The truth of the matter, is that as long as human beings create the system, any system, it will be flawed enough in some sense, that it will always end in a crash...However...not to support Keynes, but he also gets labeled inappropriately by his supporters and the press (gee, whats new?). Keynes idea was to save huge surpluses in the good years, to account for the huge deficits in the bad years. Of course, all Gov'ts have convenienty forgetting the first part of that equation. I'm pretty sure Keynes himself, if alive today, would tell you all this spending will fail miserably, due to our Govt's failure to keep a surplus after 2000.
Closed AccountMay 17, 2009
Er.. I hope you're not talking about the dot com "boom"? Because that was a bubble, not a boom, and it was rightly predicted by Paul to be a bubble.
Closed AccountMay 17, 2009
I'm sure you already know, but just in case you don't: the US government has once before in history confiscated the rightfully owned gold of the population at large, and there's no reason they wont do it again. They started with safety deposit boxes.