darin
12-21-2009, 09:56 AM
Excellent piece -
EXECUTIVE SUMMARY:If you listened carefully to his campaign promises, or if you pay attention to his economic recovery plan, you will see that Barack Obama is in grave spritual danger of replacing the One Lord and God of Christians, Jews and Muslims with another lord, British Lord John Maynard Keynes, as the One he follows. If he does, he will not lead America out of the current recession, rather he may lead us into the perdition of another GREAT DEPRESSION.
If you believe, as Barack Obama manifestly does believe, that government can create jobs (or anything else), or that the Obama administration will invest in renewable energy, "green" technology, health care or education (or anything else for that matter), you are not only foolish, but you are also in danger of violating the First Commandment of the Decalogue. Find out why.
Barack Obama must think he is God. For instance, with Joe Biden in tow while campaigning in Toledo, Ohio, he promised, “We will create five-million new, high-wage jobs by investing in the renewable sources of energy that will eliminate the oil we currently import from the Middle East in ten years, and we will create two million jobs by rebuilding our crumbling roads, schools, and bridges.” Wow! That is a total of seven-million jobs to be created by investing. (In recent speeches the numbers have varied considerably. This god is not consistent.) Obama (and Joe) will create--just as “In the beginning, God created the heavens and the earth.” (Genesis 1:1) It is probably pertinent that God didn’t create jobs for Adam and Eve but left that responsibility in their hands. Perhaps the Prophet of Change and his sidekick are more considerate, more industrious, or more knowledgeable.
Speaking of God and creating, it was another lord, the British lord John Maynard Keynes, who believed he had re-created economics during the 1920s and ‘30s, haughtily dismissing economic laws and theories developed incrementally over two centuries by the diligent, scholarly, and scientifically sound economic methodology of his economist predecessors. Keynes was responsible for popularizing, although not originating, the doctrine that government, by means of monetary and fiscal policies, could and should ensure what Keynes called “full employment.” This to be achieved through inflationary monetary policies carried out by the government’s central bank increasing the supply of money and expanding bank credit, plus fiscal policies of investing for the purpose of creating jobs. Barack Obama’s belief that he can create jobs by investing is in strict accord with Keynes’ economic doctrines.
With a recession in high gear and threatening to become the most dreaded of all economic phenomena, a big, bad DEPRESSION, news outlets now provide their customers with a daily dose of economic analysis and call for specific or unstated government action to turn the economy around. It is my observation that somewhere between ninety and ninety-five percent of the mainstream media’s commentary can be labeled, like Obama’s campaign promises, pure Keynesianism. Most of the popular media pundits urge Obama to pursue policies endorsed by Keynes in order to pull the economy back from the brink. They explain how their proposed policies will work primarily by parroting meaningless Keynesian nostrums such as “pump priming,” “multiplier effect,” and “economic stimulus.”
Now the difference between the Keynesian “school” of economics and, especially, the Austrian school, is that the latter may be labeled economic science; the former is best described as voodoo. In 1960 an eminent Austrian-school economist, Henry Hazlitt, compiled an anthology Footnote of scholarly critiques by twenty-two leading American and European economists analyzing Keynes’ General Theory Footnote , which is his magnum opus. Each scholar in whole or in part dissected Keynes’ convoluted analyses, arguments and theories, and by cutting through the enormous amount of entirely superfluous although admittedly grandiloquent verbiage of a master rhetorician, were able to show where, how and why Keynes’ “new” economics was entirely devoid of logic.
More:
http://www.jesus-on-taxes.com/BARACK_ALMIGHTY.html
EXECUTIVE SUMMARY:If you listened carefully to his campaign promises, or if you pay attention to his economic recovery plan, you will see that Barack Obama is in grave spritual danger of replacing the One Lord and God of Christians, Jews and Muslims with another lord, British Lord John Maynard Keynes, as the One he follows. If he does, he will not lead America out of the current recession, rather he may lead us into the perdition of another GREAT DEPRESSION.
If you believe, as Barack Obama manifestly does believe, that government can create jobs (or anything else), or that the Obama administration will invest in renewable energy, "green" technology, health care or education (or anything else for that matter), you are not only foolish, but you are also in danger of violating the First Commandment of the Decalogue. Find out why.
Barack Obama must think he is God. For instance, with Joe Biden in tow while campaigning in Toledo, Ohio, he promised, “We will create five-million new, high-wage jobs by investing in the renewable sources of energy that will eliminate the oil we currently import from the Middle East in ten years, and we will create two million jobs by rebuilding our crumbling roads, schools, and bridges.” Wow! That is a total of seven-million jobs to be created by investing. (In recent speeches the numbers have varied considerably. This god is not consistent.) Obama (and Joe) will create--just as “In the beginning, God created the heavens and the earth.” (Genesis 1:1) It is probably pertinent that God didn’t create jobs for Adam and Eve but left that responsibility in their hands. Perhaps the Prophet of Change and his sidekick are more considerate, more industrious, or more knowledgeable.
Speaking of God and creating, it was another lord, the British lord John Maynard Keynes, who believed he had re-created economics during the 1920s and ‘30s, haughtily dismissing economic laws and theories developed incrementally over two centuries by the diligent, scholarly, and scientifically sound economic methodology of his economist predecessors. Keynes was responsible for popularizing, although not originating, the doctrine that government, by means of monetary and fiscal policies, could and should ensure what Keynes called “full employment.” This to be achieved through inflationary monetary policies carried out by the government’s central bank increasing the supply of money and expanding bank credit, plus fiscal policies of investing for the purpose of creating jobs. Barack Obama’s belief that he can create jobs by investing is in strict accord with Keynes’ economic doctrines.
With a recession in high gear and threatening to become the most dreaded of all economic phenomena, a big, bad DEPRESSION, news outlets now provide their customers with a daily dose of economic analysis and call for specific or unstated government action to turn the economy around. It is my observation that somewhere between ninety and ninety-five percent of the mainstream media’s commentary can be labeled, like Obama’s campaign promises, pure Keynesianism. Most of the popular media pundits urge Obama to pursue policies endorsed by Keynes in order to pull the economy back from the brink. They explain how their proposed policies will work primarily by parroting meaningless Keynesian nostrums such as “pump priming,” “multiplier effect,” and “economic stimulus.”
Now the difference between the Keynesian “school” of economics and, especially, the Austrian school, is that the latter may be labeled economic science; the former is best described as voodoo. In 1960 an eminent Austrian-school economist, Henry Hazlitt, compiled an anthology Footnote of scholarly critiques by twenty-two leading American and European economists analyzing Keynes’ General Theory Footnote , which is his magnum opus. Each scholar in whole or in part dissected Keynes’ convoluted analyses, arguments and theories, and by cutting through the enormous amount of entirely superfluous although admittedly grandiloquent verbiage of a master rhetorician, were able to show where, how and why Keynes’ “new” economics was entirely devoid of logic.
More:
http://www.jesus-on-taxes.com/BARACK_ALMIGHTY.html