patrick.net

Howdy There says

I base my personal finances on Keynesian theory

Really? You kite checks and force other people to accept them when you run short of money? Do they believe your promise that you will someday save up the money to make the checks good? instead of kiting more checks to pay past bad checks?

Howdy There says

more during bad

So you espouse to the 1 1/2 multiplier as well?

Reality says

Really? You kite checks and force other people to accept them when you run
short of money? Do they believe your promise that you will someday save up the
money to make the checks good? instead of kiting more checks to pay past bad
checks?

I doubt it--he said he follows Keynesian theory. Not the way Reagan bastardized it.

Reality says

Really? You kite checks and force other people to accept them when you run short of money? Do they believe your promise that you will someday save up the money to make the checks good? instead of kiting more checks to pay past bad checks?

None of that is Keynsian, although governments like to attribute it to Keynes in an attempt to give their actions an air of legitimacy. Spending more than you take in all the time and claiming you can grow your way out of it is moronic.

indigenous says

So you espouse to the 1 1/2 multiplier as well?

The multiplier effect theory has some merit in a closed economy, but is extremely complex to apply in an open one. It's worth learning from an academic standpoint, but I wouldn't base economic policy on it.

Howdy There says

It's worth learning from an academic standpoint

But not Austrian economics?

indigenous says

But not Austrian economics?

I study Austrian economics as well. For instance, the supply and demand curve is a very useful tool for predicting price action. I don't consider either Keynsian or Austrian economics to be perfect, but both have useful tools.

I also believe that governments and banker will bastardize any economic theory they can to justify doing what they want to make themselves and their cronies richer.

I wouldn't cheerlead any cable news network at this point. Both of them barely report news. Instead its little 30 second bit here and there with stories that barely even scratch the surface. There are no in-depth reports. Its just background noise. I simply listen to NPR on the drive in to work and call it a day.

edvard2 says

I simply listen to NPR

And you don't consider THEM bias??? Wow!

Reality has a well known liberal bias.

mmmarvel says

And you don't consider THEM bias??? Wow!

No in fact. Believe it or not something like 40-45% of all NPR listeners are Republican voters. Secondly, at least NPR actually goes into deeper more detailed descriptions of a story. both FOX and CNN are the equivalent of junk food for news.

"The quantifiable evidence is overwhelming... As Ben Armbruster noted a while back, “An NBC/Wall Street Journal poll out [in 2009] found that Fox News viewers were overwhelmingly misinformed about health care reform proposals. A 2008 Pew study ranked Fox News last in the number of ‘high knowledge’ viewers and a 2007 Pew poll ranked Fox viewers as the least knowledgeable about national and international affairs.”

In [2010], PIPA published a report, this time on “Misinformation and the 2010 Election” (pdf). The point was to measure Americans’ understanding of a variety of key developments that news consumers would likely be familiar with. As was the case eight years ago, Fox News viewers were “significantly more likely” to be confused about reality."

From the comments on the same page:

"Not only are the victims of Fox News the most "consistently misinformed", they are also:

These are, of course, among the classic characteristics of a cult."

Senior citizens are powering Fox. The network has the oldest audience on all of television. The average age of a Fox News viewer is 66 years old and the decline in younger viewership is the biggest long term threat to the network’s survival.

So, hypocritical ex-hippie boomers and the so-called greatest generation. Can't say the greatest generation is looking so great now.

Heraclitusstudent says

I'm going to show this image ever time some conservative asswipe bitches and moans about The Daily Show not being a reliable source of information. Yeah, it's comedy, but everything they present as truth is true including the facts of the news.

Good for them. Most of the things that are happening in the world are boring and people would be better off if they didn't know about them. As long as I can have my cars and records, I'm perfectly satisfied. I expect life is pretty dull in Egypt anyway.

P N Dr Lo R says

I expect life is pretty dull in Egypt anyway.

"Come to Egypt, where everyday is the Fourth of July".

Howdy There says

The multiplier effect theory has some merit in a closed economy, but is extremely complex to apply in an open one. It's worth learning from an academic standpoint, but I wouldn't base economic policy on it.

Why is it worth learning? If you wouldn't base policy on it, why learn it?

"Fox News Commentator Arrested for False Claims He Worked for CIA"

FauxNoise should come with a warning label: pundits on FauxNoise are stranger than they appear.

#politics

FOX NEWS! BEAVER SNIFFING PERVERTS AND WOMEN WHO WANT TO BE PAID FOR BEING WHORES WITHOUT HAVING SEX!

YEAH, FOX! MEGAN DOING NAKED SOMERSAULTS AND HANDSTANDS!

Yes! Yes it Is!

But Breitbart is a ray of fresh air.

Reality says

Really? You kite checks and force other people to accept them when you run short of money? Do they believe your promise that you will someday save up the money to make the checks good? instead of kiting more checks to pay past bad checks?

Hmm, seems to me that when the Government creates money, people are all too happy to take it. Certainly can't tell from the strength of the dollar.

I'd be very happy if the government gave me a million of fraudulent evil socialist fiat money.

BILL O'REILLY CHASING NAKED MEGAN AROUND WITH HIS JESUS STATUE! GET 'ER, BILL!