imnotadoofus

The Diminishing Impact of Debt on U.S. Economic Growth

A LOT HAS BEEN SAID THAT WE ARE EMBRACING KEYNESIAN SOLUTIONS; THAT IS MASSIVE DEBT INCREASES TO FOSTER MORE CONSUMPTION. BUT VON MISES AND ROEPKE ALSO POINTED OUT THAT GOVERNMENT OWNERSHIP AND CONTROL THROUGH HEAVY REGULATION ACTUALLY IS MORE AKIN TO THE FASCIST ECONOMICS OF GERMANY, ITALY and SPAIN DURING THE 30s. THE CONTROL OF CAPITAL, NOT THE OWNERSHIP IN THE MAIN, WAS THE ESSENCE OF THAT STRATEGY. FOLKS TEND TO FORGET THAT HITLER HAD THE BANKS AND MAJOR INDUSTRIES UNDER HIS CONTROL OR IN HIS CAMP DURING HIS CHANCELLORSHIP BEFORE WWII. LITTLE DID THEY REALIZE HOW THEY WOULD BECOME PRISONERS OF HIS MADNESS AS WELL.