This guy explains economics very well. Watch thru the whole thing

https://www.youtube.com/watch?v=X3L0_pjRdcs

supply & demand is true for labor also

Rampant Unionizing & Wage-fixings promoted by Hoover in the 1930s prevented wages from falling at the outset of the Great Depression

Prevented failing businesses from hiring cheaper labor to stay afloat

Led to massive & prolonged unemployment

American workers were told, "ye are worth way more", and believing so, they priced themselves out of employability -- in economic effect, people were "on principle" refusing to work... in the middle of the Great Depression

Businesses which could just barely afford to pay labor inflated Union wages had to inflate their prices, passing the costs onto their customers

Wages & Prices could not fall as much as actual market forces "wanted" -- John Maynard Keynes noticed and termed the same "sticky" Wages & Prices

Democrats....

"What causes a recession or depression?"    Govt interference f any kind.

Quote from: Solar on January 20, 2021, 04:11:01 AM
"What causes a recession or depression?"    Govt interference f any kind.

2 kinds of intervention -- economic vs. political, taxing/spending vs. rules & regs

rules & regs legislate Government officials into private board rooms & business planning sessions

Conversely, according to John Maynard Keynes, under certain circumstances, Government "Fiscal" policy (decreasing taxes & increasing spending on large Public Works super-projects) can boost the economy, under certain circumstances...

That's in theory, in practice "Keynes" is used as an excuse & pretext for more political rules & regs, not the purely Fiscal economic policies he actually advocated

Quote from: TEFLing on January 20, 2021, 12:29:52 PM
2 kinds of intervention -- economic vs. political, taxing/spending vs. rules & regs

rules & regs legislate Government officials into private board rooms & business planning sessions

Conversely, according to John Maynard Keynes, under certain circumstances, Government "Fiscal" policy (decreasing taxes & increasing spending on large Public Works super-projects) can boost the economy, under certain circumstances...

That's in theory, in practice "Keynes" is used as an excuse & pretext for more political rules & regs, not the purely Fiscal economic policies he actually advocated

In some way it might  be a good thing reps cant get  blamed for the  coming disaster. Spending  is totally  out  of  control with more huge stimulus bills  coming.

Quote from: TEFLing on January 20, 2021, 12:29:52 PM
2 kinds of intervention -- economic vs. political, taxing/spending vs. rules & regs

rules & regs legislate Government officials into private board rooms & business planning sessions

Conversely, according to John Maynard Keynes, under certain circumstances, Government "Fiscal" policy (decreasing taxes & increasing spending on large Public Works super-projects) can boost the economy, under certain circumstances...

That's in theory, in practice "Keynes" is used as an excuse & pretext for more political rules & regs, not the purely Fiscal economic policies he actually advocated

Why in the fuck would you post something a moron said, John Maynard Keynes has always promoted Marx ideals which has Zero to do with reality!

Like I said, Govt Interference of any kind~

I think we will see a rather sharp decline as soon as the dems radical agenda is  combined with the already  out  of  control spending.

Quote from: ldub23 on January 21, 2021, 06:42:55 AM
I think we will see a rather sharp decline as soon as the dems radical agenda is  combined with the already  out  of  control spending.

feeding frenzy

Quote from: Solar on January 21, 2021, 05:46:57 AM
Why in the fuck would you post something a moron said, John Maynard Keynes has always promoted Marx ideals which has Zero to do with reality!

Like I said, Govt Interference of any kind~

You're a better economist than Keynes? Who else thinks so?

Keynes' name has been used to promote politics he himself never advocated

Quote from: TEFLing on January 21, 2021, 03:15:39 PM
You're a better economist than Keynes? Who else thinks so?

Keynes' name has been used to promote politics he himself never advocated

Are you serious? No economist with any credibility would ascribe to his leftist bull shit! Don't believe me? Look it up yourself, the guy despised the idea of a truly free mkt, he is of the belief economies only function when govt intervenes, the exact opposite of "Free Mkt"!

Quote from: ldub23 on January 21, 2021, 06:42:55 AM
I think we will see a rather sharp decline as soon as the dems radical agenda is  combined with the already  out  of  control spending.

Millions for "gender studies" in foreign countries could be construed as an attempt to "export socialism" abroad, a sort of "soft Stalinism" in the sense of Stalin claiming the USSR was a beachhead for the proletariat from where to export "socialism from one country" to the rest of the world.

If so, not only will Americans wind up poorer, and possibly the laughing stock of the world, but foreign violent extremists could well claim America is being a "cultural imperialist" and use the expenditures to "justify" further anti-American rhetoric or worse

Quote from: TEFLing on January 21, 2021, 03:15:39 PM
You're a better economist than Keynes? Who else thinks so?

Keynes' name has been used to promote politics he himself never advocated

https://fee.org/articles/the-failure-of-keynesian-economics/   Far too many to list here.

Quote from: Possum on January 23, 2021, 04:07:22 AM
https://fee.org/articles/the-failure-of-keynesian-economics/   Far too many to list here.

I don't blame him, it's probably all he was taught in school. We really need to gut the college system of the fuckin Marxist  Profs.

Reagan reduced taxes and increased deficit spending

Supposedly that brought the US economy out of 1970s stagflation and outspent the Soviet union into bankruptcy

Congratulations Keynes?