Happy new year, one and all. Anno Domini Two Thousand, Nineteen is upon us!
John Maynard Keynes, as part of his general theory, held that when the economy was down, the government should close the gap via excessive spending, through debt if necessary. He also posited that when the bad times were over, the government should cut back and pay off the incurred debts. This was a theory, not Holy Writ.
For their sleazy part, the politicians heard the first step loud and clear. The second part, to Keynes’s dismay, they deemed irrelevant and unnecessary. Their game of reality became constant spending, ever-increasing debts, and deficits as cause celebre. A ministerial Icarus taunted the sun with predictable results.
We, the Living, pay the price for this stupidity. Most people drift along, concerned only with immediately proximate affairs, relying on someone of importance to tell them of things like recession. By the time the elites notice a downturn, or speak openly of one, it has usually been in progress for some time.