Why Krugman and the Keynesians are wrong: The problem isn’t as simple as low aggregate demand. The core problem is that the economy needs a microeconomic reset, where supply (production) and demand (consumer) are brought back together through an undistorted and smoothly functioning price system. That means the government has to back off, not become more active. Well, the stimulative crack hasn’t worked in Japan. But hey, two centuries of failure proved nothing to these fools, why should two decades make a difference?
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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