Sunday, 3 February 2013

Obama, Austrians and old Style communists

Ezra Klein  looks at the history of Obama, Reagan and Bush Jnr and finds the recovery would have been stronger if Obama had spent as much as the latter two.
Daniel Kuehn makes the obvious statement that Obama is simply not a Keynesian.

Why do people such as Steve Kates believe otherwise.

Jazzbumpa at Angry Bear is on the money of why. They have no idea of what Keynesianism is.
( UPDATE. Noah Smith also provides evidence of people preferring dogma to evidence.)

In essence they are just like old style communists.Never let the facts intrude on anything. Rabbit on about a subject you have never bothered to understand and never reflect on why you are constantly wrong.

So talk about rising unemployment being the fault of Keynesianism in Europe but avoid the reason that it is austerity that is causing it.
Constantly talk about Japan being mirrored in debt because of failed fiscal stimuli but never mention there were just as many fiscal contractions as fiscal expansions , never mention the fiscal contractions were stronger than the expansions and never ever talk about austerity ending the short lived recovery in the 90s.