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indigenous says

If what Keynes said is true then there would have been no economy before central
bankers.

What did Keynes say?

indigenous says

Then tell us what Keynes said

Keynes said a whole bunch of things. However, I'm trying to find out to what you are specifically referring when you said this:

indigenous says

If what Keynes said is true then there would have been no economy before central
bankers.

I'm assuming there is something he said that made you write that...

tatupu70 says

indigenous says

Then tell us what Keynes said

Keynes said a whole bunch of things. However, I'm trying to find out to what you are specifically referring when you said this:

indigenous says

If what Keynes said is true then there would have been no economy before central

bankers.

I'm assuming there is something he said that made you write that...

The basic concept that I'm getting from keynesians is that the economy is created by government spending.

indigenous says

The basic concept that I'm getting from keynesians is that the economy is
created by government spending.

For someone who talks about Keynesian economics as much as you do, I would have expected at least a cursory understanding beyond typical coservative talking points. Obviously I gave you too much credit.

indigenous says

What also creates demand is investment in small business

Really? How does that work? Please explain in more detail.

tatupu70 says

indigenous says

The basic concept that I'm getting from keynesians is that the economy is

created by government spending.

For someone who talks about Keynesian economics as much as you do, I would have expected at least a cursory understanding beyond typical coservative talking points. Obviously I gave you too much credit.

Yes clearly, can you explain your perspective?

thunderlips11 says

The fundamental problem with capitalism is that profits always move money up the pyramid. There needs to be some system to move money down the pyramid, however this particular FACT doesn't appear to interest free-market lunatics and they just assume there will always be customers regardless of who holds all the cash.

Austrians explain that by time-demand problems.

You see, rich genius self-actualized entrepreneur decides he will put off buying a diamond dog collar for Tibbles, his toy puddle, until later, and use the money to invest in a new enterprise, a chain of convenience stores.

Bumette the baglady spends all her resources on buying a hotdog because she is hungry.

Therefore, we can see why rich genius the self-actualized entrepreneur is rich and Bumette the baglady is poor. The former delays consumption, but the latter irresponsibly spends all their resources on immediate gratification.

Of course the bag lady could do some work? You know pull over
and ask one of them will work for food fellers to get in your car and you will put them to work and see what happens.

indigenous says

The main dynamic behind this is comparative advantage which is the foundation of
the modern economy

What's the comparative advantage that the Chinese have in manufacturing? Do you consider the fact that they have lots of people willing to work for nothing a comparative advantage?

tatupu70 says

indigenous says

The main dynamic behind this is comparative advantage which is the foundation of

the modern economy

What's the comparative advantage that the Chinese have in manufacturing? Do you consider the fact that they have lots of people willing to work for nothing a comparative advantage?

Their comparative advantage is lots of low cost labor.

You do realize the per capita income in China has gone from $500 per year to $7000 per year in the last 10 years?

Look we have been over these points many times.

I don't have the time to do this.

I will give you one last comment each

indigenous says

You do realize the per capita income in China has gone from $500 per year to
$7000 per year in the last 10 years?

I sure do.

The interesting scenario is what would happen under following conditions:

1) Those who have disposable income would never finance anything except the house - cars/clothes/vacations/other discretionary items would be paid in cash/atm/credit card paid off before interest comes due

2) People would hunker down and constrict spending on discretionary items and save as much money as possible for a few years.

Would these behaviors teach the elites not to take things for granted?