(psssst…fiscal stimulus does not work; Keynes was totally wrong)

Do you remember 2008? An unknown newbie promised that if we spend $767B in taxpayer money, that unemployment will not go above 8%. There were triumphant headlines proudly proclaiming: ‘we are all Keynesians now!’.

Bullshit.

Not a nickel of yon fiscal spending made one dadgum bit of difference, despite the fact it was at least an order of magnitude bigger than anything Keynesians had imagined, even in their wildest wet dreams. Yet, you will read many seemingly-intelligent editorials proudly proclaiming that the problem is that it was not enough $$$: what we need is even more.

Double bullshit.

It is high-time that we realize that the US economy is a living, breathing, independent, and really annoying beast that has a life of its own. Mankind has little, if any, say on how said beastie behaves. Anyone who claims to know how to train yon beast is an idiot.