Ahwatukee letter: Keynesian economics will land our country in the sewer - Ahwatukee Foothills News: Letters To The Editor

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Ahwatukee letter: Keynesian economics will land our country in the sewer

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Posted: Thursday, May 15, 2014 3:45 am

The Federal Reserve has been using interventionist actions since the early ‘60s. This action is what many refer to as Keynesian economics. In consort with the administration, the FED thinks that intervening into the market helps accelerate growth. It usually stimulates the market in the short term, but long term loads the government with debt that has to be paid back. Michael Pinto in his article “Rising Rate Realities” expressed it this way, “Because of the unprecedented and unsustainable amount of outstanding debt, central banks now face only two choices: (1) Stop printing money and allow a devastating deflationary cycle to pop the asset bubbles that exist in equities and real estate, or (2) continue expanding the money supply until hyperinflation eradicates the middle class and the economy.”

This is what our leaders have given us. They have failed us. They have decided to launch our fiscal and monetary policies using unsound mathematics, and accounting gimmicks. Obama and Bernanke have showed America the sewer, because that is where we are going to end up. As Pinto so aptly put it, there are only two choices, now. It doesn’t matter who is president next time; these people have betrayed us.

Don Crook

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