The FT: Peddling Keynesian voodoo-nomics with the best of them

Perhaps the FT’s invective influenced the masses of the 1930s and the scared children of the Cold War, but to paint Ron Paul as an “isolationist” in the year 2011 is such a pathetically overt attempt to sideline his ideas as to be laughable. So he’s an isolationist? Why? Because he doesn’t want to slaughter Muslims like the rest of the Republican candidates? Because he prefers trading and peace over killing and war?

First off, they don’t even mention he came in second in the Ames Straw Poll until three-quarters of the way into the article, preferring instead to discuss neocons Pawlenty, Perry and Bachmann (the former IRS lawyer). As they say, the fix is in. The memo has gone out to all of the MSM; Ron Paul is not to be mentioned. Fair enough. As the Internet supplants the MSM, it matters little what the gatekeepers have to say any more.

The entire Republican field (except Paul) are clones of George W. Bush and Barack Obama. Any of them would constitute a continuation of the same disastrous status quo policies of the last decade (or 40 years). They seek power solely to rule over others, shower Wall St. with taxpayer and printed money, and wage even further war on (mostly) Muslims.

A few pages after the straw poll article is an editorial by Keynesian Clive Crook. In it he lays all of his cards on the table in the form of support for more QE. You see, Keynesians have only one tool to solve the busts they create; money printing. Their ideology keeps them from seeing the world as it is; heavenly indebted with markets hobbling from crisis to crisis. Despite being in what looks like a stagflationary depression (which is Keynesian kryptonite) for 3 years, they still advocate piling more debt on. Despite already unleashing an inflation on the world that has yet to fully play itself out, world central bankers, their handlers and MSM mouthpieces still want more.

For men like the NYT’s Paul Krugman and the FT’s Clive Crook, Ben Bernanke is a hero. As the head of the shadowy banking cartel known as the Federal Reserve he “averted disaster” we are told. Like a white knight who rides to the rescue, central bankers must be revered and worshipped.

Excuse my commoner brain, but I see them as slightly different. Far from being the heroes of the story, they are most definitely the villains. They not only created the mess we are in, but their “kick-the-can-down-the-road” mentality ensures the next crisis will be even worse. They have no solutions other than showering the world with newly printed dollars, which will unleash further hardship on that part of the world’s population that likes to eat, keep warm and live.

Since there was no correction three years ago; only more money printing adding to the already astounding levels of debt, we are still long overdue for a painful realignment as the factors of production shift and malinvestment is liquidated. Rather than save the world, central bankers have centrally planned their way to a much larger crisis. Until bankruptcy is re-legalised and those who made mistakes there will always be a major crisis just over the horizon.


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