Video: In this new era of capitalism, who do we trust? Markets, regulators or both?
About 8min ... dichotomy ...
From a previous blog entry - just the lead in ... keep an open mind ... how do you use information!
Although I am not a scholar on the history of the Great Depression, it has been described to me by my family and I have read about it ... which makes me as qualified as most of the people pontificating about the situation we find ourselves in today. People like to disparage the economist Keynes these days ... all he said was that there was a little simple algebra that roughly describes the interactions of interest rates, employment, income and consumption! Trust me ... it is still true! You have a big crash, a reduction in income, a shrinkage of asset values and you are going to have a recession / depression! What would you do ... Mr. President ... well Keynes would tell you to supplant the loss in consumption with Federal spending to boost / maintain employment or reduce low / middle income taxes or both ... but not if you are a conservative Republican! In the latter case you focus on finding an anti-FDR solution ... contract spending, raise interest rates and increase unemployment.
The rest of it ...
FDR vs Paul Ryan, 1938 all over again
WI 1848 Forward: #PBS - Need To Know 4/22 Broadcast - #Capitalism 4.0 : #47% vs #1%
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