Google has finished an amazing project ofÂ Mapping the 2010 U.S. Census
,Â published in the New York Times.Â Click on the link for a fascinating graphic showing what's happening across the US! - David
TodaysBigFailÂ is a website and Facebook page devoted to videos of things going horribly wrong. Â I'm nominating the fatal flaws of Keynesian Economics as its next topic!
So here's more on the demonstrated bust of Keynesian (stimulus) economics, touched on in this morning's post. This from none other than the nonpartisan think tank RAND Corporation:Â Where Keynes Went Wrong.
The failure of the US government's massive stimulus actions is as plain as day to all with an open mind. We'll be paying for those colossal mistakes for years to come, and that's doing nothing but damage to the real estate and jobs markets.
That the Keynesian theory upon which they were based is fatally flawed is a lesson for all to remember, most notably economics professors, textbook authors, politicians, and voters. Â These diseconomic theories equating government spending and taxation with the merits of business investment and consumer spending have been taught, practiced, and sold like snake oil for far too long. Â Just sayin.'
P.S. Â Don't let the politicians talk you into jumping over anything on a BMX bike either!
As mentioned in this article from New York Times (a source seldom quoted by this blogger), Ben Bernanke'sÂ Fed Panel Is Divided on Direction.Â Seems "too little too late" is the new "too much too soon" when it comes to his attempts to "manage" interest rates and inflation.
Granted, it's a thankless job. Â But monetary theory, the antithesis to Keynesian economics (whose theories the current administration has conclusively disproved), tells us that these economic factors are the results of supply and demand. Â These may be positively influenced by communicating clear policies and sticking to them. Â Ultimately, however, they are set by the market, meaning that attempts to manage them require market intervention, which tends to be costly and short lived. - David