In my previous post I asked which of the three major Keynesian stimuli is NOT like the others. The three being:
Many answers were tendered AND MANY WERE RIGHT FOR MULTIPLE REASONS, but I recall only one person getting the answer I was personally looking for.
There was a future in two of them, there is no future in the third.
I addressed this before, but I feel I have to address this again because idiots like Bernanke and His Magic Federal Reserve keep hammering away with their impotent tools to get the economy to grow again and so let the lesson begin.
During WWII, forget fighting for our future, we were just fighting to survive. We did not want the socialist fascist government of the Nazi's nor did we want the religious worship of an emperor as they did in Japan. We wanted to continue to be America and in fighting this second world war, further defined what it meant to be America and American. When the troops got back, we were not only victorious, but (unlike Vietnam and to a lesser extend today) the rest of the country were proud of what the troops did and supported them. In short we were all on the same page and pro-American. The troops and the rest of society then continued on to build a greater America by investing in businesses, homes and families.
During Reagan, yes there was an element of a cold-war going on, but the primary reason the Reagan Keynesian stimulus worked is because, once again, there was a future. Reagan was no doubt pro-America. More importantly he was pro-production, pro-individualism, pro-freedom, pro-business, pro-economic growth. The producers of this society knew he was on their side and thusly had faith in the short to medium term future of the country.
Today you may have been able to claim Bush was somewhat pro-America, but the same cannot be said of Obama. Additionally, you know for a fact Obama is not "pro-Business, "pro-Individualism," or "pro-Entrepreneur." He comes from a cabal of politicians who hate business, hate success, hate production and the only real "economic" plan he has is "well, all those green jobs will save us" (even though those green jobs aren't economic). Additionally, the economic stimulus he has pursued hasn't been focusing on tax cuts as much as it has been a galactic pissing away of future generations' money on frivolous social programs and government programs that produce nothing. Certainly not capital goods that would be used for future production, not even consumer goods that could be used for immediate consumption. Just initiatives, grants and a free-for-all for his armies of worthless-degreed people-come-social-workers/activities.
So Krugman can call for all the government spending he was.
Bernanke can promise the Fed will genetically engineer job-farting unicorns.
It won't matter.
This "Keynesian stimulus" is nothing more than a money grab and the administration is doing nothing more than criminalizing and destroying the American way of life.
Enjoy the decline!