by Ignacio Gutierrez

Created on: November 09, 2008

Keynesian economics is an obsolete system for anyone who cares to know, or anyone who doesn't care to live through the inevitable inflation created by it's truly failed policies of spurring economic activity through massive government spending, especially when it involves impossible deficits. If someone could please inform this to our president elect Mr. Obama, let alone Nancy Pelosi, Harry Reid and particularly Barney Frank who possibly referred to this ideology by coining the term "changeism", unless he meant to say Keynesianism, a few weeks back when informing a reporter that deficits are nothing to worry about.

Really? Considering we're footing the bill, is anyone doing the math? First, there was the $150 billion stimulus package earlier this year, where millions of checks were sent to the wrong address. Oops. Guess they'll have to spend millions more, again, in administrative costs returning money that was ours to begin with, since cutting our taxes would be much too easy. Then there was the $700 billion stimulus package, which they didn't anticipate banks to hoard the money, and the $85 billion paid out to AIG. Giver or take another $50 billion for the auto industry, and that totals about $1.72 trillion. Check please.

And now there's talk of another stimulus packages once Obama takes office. Not to mention the promise of millions of new "green jobs" which can't be outsourced, and will no doubt be unionized, replete with lifelong pensions most likely footed by taxpayers in the private sector who don't have that same luxury. These should come in handy once Obama follows through on taxing the coal industry out of existence. Heck, it only supplies over 50% of our energy. But that's OK. Just make sure to really, really inflate your tires and wear a sweater come winter like Jimmy Carter prognosticated when he too promised taking us off foreign oil.

There's nothing new about the "change" we're going to experience, other than naming it the New New Deal. Maybe this time around it will defy the laws of supply, demand , labor and scarcity unlike the previous New Deal which most people aren't aware how it's policies turned a recession that would have corrected itself into the Great Depression and prolonged it by seven years. All the signs are there. High taxes, protectionism, the subtle socialization of our banking and energy industries. The only missing puzzle pieces are John Maynard Keynes and Franklin D Roosevelt. At least we have Barney Frank and Barack Obama. They'll do just the same.

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