The Keynesian cargo cult’s intellectual bankruptcy is on full display with ‘helicopter money plan’

August 29, 2014 by History in a Hurry

Key paragraph:

The real problem is way too much debt—the legacy of Keynesian central banking, manipulated, sub-economic interest rates and the consequent scramble for yield which has enabled governments to borrow and spend at unsustainable rates.

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Keynesian Fairy Tale Alert:

Establishment Citadel–Council On Foreign Relations–Peddles Helicopter Money Plan

by David Stockman • August 29, 2014

Folks, take economic cover. There is already a rabid financial mania loose in the land as reflected in the irrational exuberance of the stock market, but, in fact, the fairy tale economics fueling the current financial bubble is fixing to leap into a whole new realm of lunacy. Namely, an out-and-out drop of “helicopter money” to the main street masses.

That’s right. The Keynesian brain freeze has so deeply infected the Wall Street/ Washington corridor that the grey old lady of the establishment, the Council On Foreign Relations, has lent the pages of its prestigious journal, Foreign Affairs, to the following blithering gibberish:

Continue reading:

http://davidstockmanscontracorner.com/keynesian-fairy-tale-alert-establishment-citadel-council-on-foreign-relations-peddles-helicopter-money-plan/

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