Premise: Creeple like to claim that they use a system of Keynesian economics. However, Keynesian economics has never been attempted in America.
Question: Creeple lie about everything, so is it so surprising that they would lie about this?
Conundrum: If creeple didn’t deceitfully describe their economic system as Keynesian, then they might have admit to what it really is – a branch of progressive-fascism.
[Creeple and sheeple mostly play stupid about economics.]
Explanation: In 1936 Brit John Maynard Keynes published his book, The General Theory of Employment, Interest and Money – his theory of stimulus based economics. Keynes proposed his theory as an alternative to the free market economics of Adam Smith. In actuality he was too late. By the time his book was published, the economic progressivism of the early part of the century had already been merged with currently fashionable Euro-fascism to produce a total governance package of progressive-fascism, whose branch of economics in our vernacular is known as creeplenomics. This was done by President Herbert Hoover who was elected in 1928. Franklin Delano Roosevelt followed Hoover as President in 1932 and doubled down on Hoover’s new style of progressive-fascism governance. Roosevelt never embraced true Keynesianism, and neither did any of his successors.
Creeplenomics (the economic branch of progressive-fascism) is essentially, spend like hell on government programs, regulate the private sector like hell, take over select private sectors like education and healthcare, tax the private sector like hell, and above all increase the size of government like hell. Then, subsidize favored groups like green industries, farmers and union companies, penalize those who do not fit the agenda, like coal and oil industries, and then hope for the best. Creeplenomics recently produced the financial crisis in 2008 and the following Obama Malaise.
Keynes said that to reverse a recession the government should stimulate private sector investment with deficit spending by borrowing money. (For example, that is not what President Obama has done – almost all of his stimulus money went to government programs and workers – federal money bailed out state programs, and unions more specifically.) Keynes favored surplus spending during economic expansion to pay for additional spending during downturns. If deficits became necessary Keynes also directed that a parallel plan be devised at the same time to immediately reduce the deficit into a surplus to rebalance the books once the recession was over (don’t hold your breath waiting for Obama’s surplus plan). Keynes opposed structural deficits like America has had since the 1930s. He advocated only temporary deficits and debt, with surpluses as a norm. That has never happened. Did you get that? Keynesian deficit/surplus economics has NEVER been utilized by an American government since Keynes put out his theory. And Keynes did not advocate that government should or even could stimulate consumer demand (as creeple constantly claim), only that it could help sustain private investment, which also rules out tax increases during downturns. So-called Keynesians subsequently hyjacked Keynes’ name and mutated his theory for their own purposes of progressive-fascism. Indeed, after a later meeting with American Keynesian economists, Keynes is reported to have said to his wife, Lydia, “I was the only non-Keynesian there.”
Conclusion: True Keynesian economic policies would be ten times better than the progressive-fascist creeplenomics that we have now, but of course, the freeplenomics of Adam Smith is a hundred times better than Keynesianism.