!!!ECRI calls new US Recession!!!

[opebo]

Interesting quotes from that article:

at least since the 1970s, the pace of U.S. growth – especially in GDP and jobs – has been stair-stepping down in successive economic expansions.

From 1799 to 1929, nearly 90% of U.S. expansions lasted three years or less

Obviously it was Keynesianism which made recessions shorter, shallower, and less frequent, and expansions longer and higher.  The lesson of history is that we should follow exactly the policies of the 1930s through the 1970s. 

[opebo]

actually, the longest two expansions on record came after the 1970's....though not as robust in their intensity as the recoveries before, the expansions of 1982-1990 and 1991-2000 produced a standard of living never before achieved

No, the standard of living was higher before 1973, jmfcst. (I'm only concerned with the working class, obviously).  The expansions of the 1980s and the 1990s were essentially worthless.

[opebo]

Congratulations, Republicans! You've worked hard for this.

The lesson is twofold - the economy is the creature of the State, and bad policy destroys the economy both directly and through fear and elimination of confidence.

Anyone who still believes the economy is a separate 'private' entity rather than an expression of State action is laboring in the dark.

[opebo]

Keyes: By your actions, sir, you are risking the future of the human race!
General Sline: To guarantee the American way of life, I'm willing to take that risk.

It is an excellent quote, jmfcst, but you are alas mistaken.  The 'american way of life' was built by John Maynard Keynes, FDR, LBJ, and a billion little Babbits who, while just as simpleminded as yourself, happened to be better led.  I know you think it is all about toting the gun and pretending to be straight, but that's just window dressing.  The world your masters are building for you will look like 1870, and after all that world looked almost entirely like a filthy slum.  Your children - yes, even yours (you're not rich enough) - will be worse off for the choices your sort made.

[opebo]

Keyes: By your actions, sir, you are risking the future of the human race!
General Sline: To guarantee the American way of life, I'm willing to take that risk.

It is an excellent quote, jmfcst, but you are alas mistaken.  The 'american way of life' was built by John Maynard Keynes, FDR, LBJ, and a billion little Babbits who, while just as simpleminded as yourself, happened to be better led.  I know you think it is all about toting the gun and pretending to be straight, but that's just window dressing.  The world your masters are building for you will look like 1870, and after all that world looked almost entirely like a filthy slum.  Your children - yes, even yours (you're not rich enough) - will be worse off for the choices your sort made.

You just like Keynes because he was a member of the Bloomsbury Group.

Well that's not really true, but you've a point and seem to know me awfully well; I thought you were supposed to be rather new here?

[opebo]

.. keynesianism is not that different from, say, neoclassical liberalism.

It is just different enough, M. Peep.  Like the salt and pepper in a stew - it makes all the difference.

[opebo]

And I prefer salt with Popper (the thinker, not the drug).

Well, yes, you're just another right winger.  How many depressions will it take?

[opebo]

And I prefer salt with Popper (the thinker, not the drug).

Well, yes, you're just another right winger.  How many depressions will it take?

I'm uruguayan, I don't care so much about "american" economy.

Oh, economy is good there?