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David Stockman Explains The Keynesian State-Wreck Ahead – Sundown In America | Zero Hedge

David Stockman Explains The Keynesian State-Wreck Ahead – Sundown In America | Zero Hedge. (FULL ARTICLE)

David Stockman, author of The Great Deformation, summarizes the last quarter century thus: What has been growing is the wealth of the rich, the remit of the state, the girth of Wall Street, the debt burden of the people, the prosperity of the beltway and the sway of the three great branches of government – that is, the warfare state, the welfare state and the central bank… What is flailing is the vast expanse of the Main Street economy where the great majority have experienced stagnant living standards, rising job insecurityfailure to accumulate material savings, rapidly approach old age and the certainty of a Hobbesian future where, inexorably, taxes will rise and social benefits will be cut… He calls this condition “Sundown in America”.

  SUNDOWN IN AMERICA: THE KEYNESIAN STATE-WRECK AHEAD

Remarks of David A. Stockman at the Edmond J. Safra Center for Ethics, Harvard University, September  26, 2013

The median U.S. household income in 2012 was $51,000, but that’s nothing to crow about. That same figure was first reached way back in 1989— meaning that the living standard of Main Street America has gone nowhere for the last quarter century. Since there was no prior span in U.S. history when real household incomes remained dead-in-the-water for 25 years, it cannot be gainsaid that the great American prosperity machine has stalled out….

Ron Paul: “The Country Is Bankrupt… The People Are Being Bamboozled” | Zero Hedge

Ron Paul: “The Country Is Bankrupt… The People Are Being Bamboozled” | Zero Hedge.

“The American people are being bamboozled into believing that you have to keep spending for ever,” Ron Paul exclaims, as “neither side is truly looking for spending cuts.” As he explains they all know that increasing spending is all that can maintain the status quo. In this brief CNBC clip, Paul says playing the blame game is ignorant of the reality that both sides are “rigid with bad ideas,” dismissing Obama’s ‘faction’ comments. For a glimpse at the chaos underlying the status quo (that is being exposed this week), Paul blasts that“it is a philosophy of government that is to blame; Keynesianism, Militarism, and Interventionism, and the funny-money system that we use. All that has come together and the country is bankrupt and nobody wants to amid it.”

“Why in the world can’t the people have an option to opt-out?” is the middle ground possibility that Paul suggests…

 

oftwominds-Charles Hugh Smith: Why Isn’t There a Demonstrably Correct Economic Theory?

oftwominds-Charles Hugh Smith: Why Isn’t There a Demonstrably Correct Economic Theory?.

 

Japan Enters The Keynesian Twilight Zone As Total Debt Crosses ¥1,000,000,000,000,000.00. | Zero Hedge

Japan Enters The Keynesian Twilight Zone As Total Debt Crosses ¥1,000,000,000,000,000.00. | Zero Hedge.

 

Guess Who Is A Shocking Fan Of Austrian Economics | Zero Hedge

Guess Who Is A Shocking Fan Of Austrian Economics | Zero Hedge.

 

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