Is Keynesian an Accepted Form of Economics?

I posted this at Topix.com at this article titled Is Keynesian an Accepted Form of Economics:

There are only two solutions, Keynes stimulus and Mises austerity. Austerity does not work, period. Keynes would work if the money went into the real economy. However it doesn't. It goes into speculation. Speculation must be stopped.

Bankers want three things:

1. austerity
2. supply side (Andrew Mellon called it percolation)
3. speculation in futures markets

These must be stopped and avoided. Otherwise, we are screwed and the derivatives will take up most of the budget with more bailouts. Also, banks should be nationalized so that the profits can pay for their "mistakes" of easy money. After all, losses are socialized or the whole system will crumble, so the taxpayer may as well take their profits.

Otherwise, capitalism for the real economy could die.



I have an ebook that you may want to look at Will Rogers from Great Depression to Great Recession http://www.amazon.com/Rogers-Great-Depression...

 Unfortunately, if the US economy does not grow sufficiently, money that is used for necessary services such as social security will be diverted into shoring up the banks and their derivative "mistakes". And no one wants to take on and wind down the private TBTF banks. We did take over Citibank. The US government should have taken over all the other TBTF banks by getting equity shares until they stabilized. The profits could have gone to protecting the derivatives and made the US a lender of last resort without going into massive debt.

If the losses are socialized by the US taxpayer, the lender of last resort, then for a time profits should also be nationalized. The banks should pay tribute to the taxpayer for a long time if these bailouts continue to be needed.

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