Tag Archives: Federal Goverment

Why is North Korea Being So Unreasonable?

north-korea disarmament

On April 28, Secretary of State Rex Tillerson told the U.N. that North Korea “must dismantle its nuclear missile programs” before the US “can even consider talks.”*

Sounds reasonable.

Why hasn’t the Kim Jong-Un regime responded with open arms and shouts of joy for this generous and fair-minded proposal from Uncle Sam?

Maybe it is because North Korea not only has first-hand knowledge of US “diplomacy,” but it can point to the grisly consequences that happen to regimes that do not have nuclear capabilities when they fall out of favor with Washington war mongers.  Serbia, Afghanistan, Iraq, Libya, Syria are just some recent examples.

Nor does North Korea have to look around the globe for what the US does to nations without nuclear arsenals, but can recall events which took place not so far away.  For more than a decade, America mercilessly pulverized the little, defenseless country of Vietnam.  Despite the destruction and mass murder inflicted, it was to no avail except, of course, to line the pockets of arms manufactures while American citizens were drained of their wealth and blood.

Or simply, Kim Jong-Un can look at his nation’s own history and see how the US treated it prior to it becoming nuclear.  In the “police action” of 1950-53, American coalition forces killed over 3 million North Koreans and dropped more bombs on the country then were used on Japan in World War II according to international war crimes lawyer Christopher Black.**

And, why would North Korea or, for that matter, anyone else have any faith in diplomatic agreements with the US which consistently violates terms of international accords and often complains afterwards when agreements are reached.  The latest example is President Trump carping that Iran is not living up to the “spirit” of the nuclear deal concluded under the Obummer Administration and signed off on by six major world powers.

North Korea, as well as the rest of the world, which is not bribed or threatened by the US Deep State, is certainly aware that the two American-Iraqi Wars had their origins due to American duplicity.  While it originally gave Saddam Hussein permission to intervene in Kuwait, the US then reneged blaming the Iraqi strongman which thus laid the groundwork for his murder and the country’s destruction.

Not only can North Korea look to the murderous and duplicitous US foreign policy record, but it can point to how the American state has killed its own citizens from its involvement in the take down of the World Trade Center, to the gassing and slaughter of men, women and children at Waco, Texas.  Moreover, the federal government and now local authorities are terrorizing their citizens with increasing regularity via a number of false flag events and drills.

By all means, the Kim Jong-Un regime should come to its senses and acquiesce to US demands.

Unfortunately, because it is an authoritarian society based on the immoral and economically unworkable system of communism, North Korea is unable to make an ethical case against the hypocrisy of the US which accuses Syria and others of human rights violations, yet has allowed the slaughter of innocent babies of some 40 million since the legalization of abortion in 1973.  Moreover, in another societal-wrecking and depraved act, the US Supreme Court has sanctioned sodomy, one of the four sins that cry to heaven for vengeance.

While no single entity can militarily challenge US hegemony, a reversal of the murderous ways of American foreign policy will only come about through a change in ideology on the home front.  Once the justification for empire is debunked in the court of public opinion, the mobilization of anti-war/anti-empire movement can commence.

After generations have been inculcated by the media, public schools, colleges/universities and the government about the glories of the US military, it is unlikely that there will be any paradigm shift in American foreign policy matters anytime soon.  Only an economic collapse or severe enough financial panic will force the US to pull back on its overseas adventurism.

In the meantime, if Kim Jong-Un intends to survive and keep his country from resembling Iraq or Syria, he should maintain his “unreasonable” stance when the likes of Rex Tillerson demand that North Korea disarm.

*Tyler Durden.  “Trump Slams ‘Disrespectful’ North Korea After Unsuccessful Missile-Test, Warns Situation is ‘Bad.'”  28 April 2017. http://www.zerohedge.com/news/2017-04-28/north-korea-test-fires-another-ballistic-missile

**Christopher Black.  “North Korea: The Grand Deception Revealed.” New Eastern Outlook.  3 March 2017.   http://journal-neo.org/2017/03/13/north-korea-the-grand-deception-revealed/

Antonius Aquinas@AntoniusAquinas

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On the Commemoration of World War I: From Woodrow Wilson to Donald Trump

Trump - Wilson

It is altogether fitting that the US attack on a Syrian airport, the dropping of a MOAB on defenseless Afghanistan, and the potential outbreak of nuclear war with North Korea have all come in the very month one hundred years earlier that an American president led the nation on its road to empire.  President Trump’s aggressive actions and all of America’s previous imperialistic endeavors can ultimately be traced to Woodrow Wilson’s disastrous decision to bring the country into the First World War on April 6, 1917.

This month, therefore, should be one of national mourning for the decision to enter that horrific conflict changed America and, for that matter, the world for the worse.

Had the US remained neutral, the war would most likely have come to a far quicker and more politically palatable conclusion, however, the entry of America on the Entente side prolonged the conflict and extended its economic and political destruction to such a degree that the Old Order could not be put back together again.  The great dynasties (Germany, Russia, and especially Austria) were ruthlessly dismantled at the conclusion of WWI by the explicit designs of Wilson which left a power vacuum across Central Europe.  The vacuum, of course, was filled by the various collectivist “isms” which produced the landscape for another global conflagration even greater than WWI.

For America, after a brief revival of isolationism and non-interventionist sentiment throughout the land, the country, led by another ruthless and power-mad chief executive, provoked and schemed its way into the second general European war within a generation, this time via “the backdoor” with Japan.  A second US intervention, making the war global, could not have come about had there been no WWI, or if that war had ended on better terms.

After the Second World War, the US emerged as the world’s dominant power with bases across the globe and entered into a string of never ending hot and cold wars, regime changes, destabilizations, assassinations, bombings, blockades, and economic sanctions that have continued to this very day and hour.  Quickly after the war’s conclusion, the American media, academia, and the security and military industrial complex had to invent the myth that the Soviet Union and the US were of equal military might which turned out to be a blatant lie.  After being decimated in WWII and its adherence to unworkable and economic destructive socialistic planning, the Soviet Union could never produce the wealth necessary to maintain a global empire as the US did, and still does.  The “Soviet threat” was always a ruse to get gullible Americans to vote for and support greater and greater “defense” spending.

Besides Ron Paul and to a far lesser extent his son, Donald Trump was the only viable candidate who spoke of taking a new, less interventionist foreign policy which is why he was able to garner so much support from millions of empire-weary Americans during the presidential campaign.  He rightly called the Iraqi War a “disaster,” spoke of getting along with Russia, and the US’s commitment to NATO should be rethought, among other refreshing comments on foreign affairs.

In one of the most memorable and hopeful passages of his Inaugural Address, the new president championed non-intervention abroad:

We will seek friendship and goodwill with the nations of the world, but we do so with the understanding that it is the right of all nations to put their own interests first. We do not seek to impose our way of life on anyone, but rather to let it shine as an example. We will shine for everyone to follow.

Unlike Ron Paul, however, Trump had no grounding in a true America First foreign policy.  While critical of his predecessors’ foreign policy decisions, Trump was not opposed philosophically to the US Empire or saw it as the greatest threat to world peace which currently exists.

Without an ideological basis against American globalism, Trump was easy pickings against the threats and machinations of the Deep State.  Without a refutation of the ideology which drove Wilson and all of his successors to promote military adventurism abroad, Trump will be little different than his imperial predecessors and with a personality that is thin-skinned, impulsive and unpredictable, Trump could, God forbid, become another Woodrow Wilson.

Antonius Aquinas@AntoniusAquinas

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Welcome to Totalitarian America, President Trump!

Deep-State-vs-Trump II

If there had been any doubt that the land of the free and home of the brave is now a totalitarian society, the revelations that its Chief Executive Officer has been spied upon while campaigning for that office and during his brief tenure as president should now be allayed.

President Trump joins the very crowded list of opponents of the American State which includes the Tea Party, tax resistors, non-interventionists, immigration opponents, traditional family advocates, and a host of others who have been spied upon, persecuted and badgered by federal “intelligence” authorities.  While Congress conducted some feeble hearings and investigations of the shenanigans of the US spy agencies during the interminable Obummer Administration, no real action or reform was taken to reign in the eavesdropping and spying by the national security state on American citizens.

Hopefully, the surveillance of President Trump will change his outlook on the US “intelligence community” especially in regard to those courageous souls who have spoken out and risked life and limb to alert the public about their rulers’ nefarious activities.  Edward Snowden should be among the first to receive a pardon while the person who provided him sanctuary from his American persecutors, the reviled Vladimir Putin, should be commended for his noble act, a rarity among world leaders in this democratic age.

President Trump has demonstrated throughout his life loyalty to those who have supported him.  He should, therefore, do all in his power to extricate Julian Assange from the Ecuadoran Embassy in Great Britain and provide him with safe conduct to the US or any destination in which the heroic whistleblower prefers.  Without the deluge of Wikileaks during last fall’s presidential contest exposing the massive corruption of the Clintonistas, it is unlikely that Trump would have ever prevailed never mind winning by an electoral landslide.

Not only has candidate and President Trump been monitored, but just about every American citizen is under surveillance, the data of which can be used against them at the appropriate time if and when they should challenge the American Leviathan.  NSA whistleblower William Binney confirmed what has been long known in government circles and by those Americans awake to Washington’s tyranny.

Binney confirmed Trump’s suspicion about surveillance to Fox News, “I think the president is absolutely right.  His phone calls, everything he did electronically was being monitored.”* He added that, “Everyone’s conversations are being monitored and stored.”

Ironically, it has been the immense wealth generated by a relatively free market in America that has provided the means for the government to create, expand, and maintain such a sophisticated and dangerous spying apparatus that is now being used on the very people funding it.  That such a situation could emerge under the supposed “checks and balances” of the US Constitution demonstrates again how truly worthless the document is in the protection of individual rights.

While reform of the current system has proven to be futile and without any constitutional restraint, it, unfortunately, will mean that spying and the murderous US empire of which it is a part will continue as long as the economy does not collapse and the dollar retains its world reserve status.  A silver lining, therefore, from a dollar crisis, would mean a decline in the US military and security state.

Of course, the demise of the US spy and military establishment will not be a simple process, but will be fraught with tremendous social and political upheaval and more than likely bloodshed as the Deep State will do everything in its power to protect its turf.

While a collapse may be a ways off, it is hoped that the spying on President Trump will move him to rethink his position on the Deep State which wants to sabotage his every move that goes against its interests most notably a potential detente with Russia.  Talk of deescalation of American military presence in world affairs is anathema to the powers that be.

In his Inaugural Address, President Trump repeatedly promised to put America first.  The nation’s intelligence agencies do not share that vision, but instead owe their allegiance to the New World Order.  If the President has not figured this out after having been secretly monitored, there is little hope for the near future.

*Tyler Durden. “Former NSA Whistleblower: ‘Trump Is Absolutely Right, Everything Was Being Monistored.'”  Zero Hedge.  3 March 2017. http://www.zerohedge.com/print/589722

Antonius Aquinas@AntoniusAquinas

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Donald’s Electoral Struggle

trump-map

After touting her pro-labor union record, the Wicked Witch of Chappaqua rhetorically asked, “why am I not 50 points ahead?”  Her chief rival bluntly responded: “because you’re terrible.”* No truer words have been uttered by any of the candidates about one of their opponents since the start of this extraordinary presidential campaign!

That Hillary Clinton is even remotely competitive in the race despite her flagrant and undeniable corruption, numerous breaches of national security, a long incompetent and bungling political career, and the utter lack of any personal charm or charisma, points to ominous trends within the American electorate that if not checked will mean political futility for future challengers of the status quo and continued economic deterioration.

Simply put: Killary is in contention despite a mountain of negatives because the “dependency class” of the electorate has mushroomed to such an extent that anyone who seeks its reform is automatically at a disadvantage, while candidates, no matter how vile, who promise to keep the gravy train rolling or expand it, will remain viable.  This is the dilemma that Donald Trump faces.

Most of the data in this regard is quite telling.  To show how far the US has fallen as an economic power, government workers outnumber manufacturing workers by 9,932,000!  The three levels of government – federal, state, local – employ some 22,213,000 people while the manufacturing sector employs 12,281,000.**   Parasitical bureaucrats outnumber those who actually create wealth by almost double.  Not only is this a recipe for economic stagnation and decline, but it creates an entrenched voting bloc and contingency for government-friendly office seeking politicians.  There have been few if any more government-friendly figures over the past century than Hillary Rotten Clinton!

Those who are dependent on the State goes far beyond mere government employees: 46 million receive food assistance, 66 million people are “Social Security” recipients, 8 million people receive “unemployment insurance.”  Federal government spending on for-profit firms comes to some $500 billion, which Charles Murray has estimated is about 22% of the workforce or about 36 million people.  Non-profit organizations and NGOs with income of $2 trillion and 12 million employees receive about one third of their funding from the government which accounts for another 3 million dependents.  This brings the total American State-dependency class to a staggering 181 million members!***

Summing up this disturbing data, the eminent economist and philosopher, Hans-Hermann Hoppe wrote:

                   . . . only 79 million people or about one third

of the adult (above 18) US population of 260 million

(or about 25 percent of the total population of 320

million) can be said to be financially wholly or largely

independent of the State, whereas close to 70 percent of

the US adult population and 57% of the total population

are to be counted as State-dependents.****

These trends will be accentuated, to say the least, if Donald Trump is defeated, which will give Hillary and the Republican-amnesty crowd free reign.  After grants of amnesty for the millions of illegals already in the country are given and opening of the nation’s borders to even more, any hope of true reform of the welfare state will be extinguished.  Moreover, it will further burden those of the productive, non-dependency sectors of society who will have to support even larger groups of parasites and free loaders.

The Left clearly understands what is at stake, which is why they see Trump’s anti-immigration stance, his talk of closing agencies (Department of Education), and grappling with federal spending as a direct threat to their power base.  This is why they are apoplectic in their opposition to the billionaire businessman turned presidential contender.  He and his constituency are, for the most part, outside of the dependency class.

A population that is increasingly tied to government largesse is obviously not conducive for economic growth.  For Donald Trump to make America great again, the nation’s burgeoning dependency class must be halted.  Not only will this mean that the “Trump Movement” will not be a passing political fad, but will have a necessary and lasting impact.

That Hillary Clinton is not significantly ahead despite her enormous advantages must be cause for a lot of sleepless nights among the power elite.  A Clinton Presidency would secure the Left’s electoral dominance for years to come.

One man stands in their way.

* Guy Benson, “Question From Hilary Clinton” ‘Why Aren’t I 50 Points Ahead?'”  Townhall.  22 September 2016.  http://townhall.com/tipsheet/guybenson/2016/09/22/question-from-hillary-clinton-why-arent-i-ahead-by-50-points-n2222202

**Terence P. Jeffrey.  “Government Workers Now Outnumber Manufacturing Workers by 9,932,000.  CNS News.  2 September 2016.  http://www.cnsnews.com/news/article/terence-p-jeffrey/government-workers-now-outnumber-manufacturing-workers-9932000#disqus_thread

***Hans-Hermann Hoppe.  “Democracy, De-Civilization , and Counterculture.”  HansHoppe.com.  26 September 2015.  http://www.hanshoppe.com/2015/09/democracy-de-civilization-and-counterculture-pfs-2015/

****Ibid.

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com/

 

 

 

 

 

 

 

Donald and the “Maestro”

trump-ii            greenspan-ii

Former Federal Reserve Chairman Alan Greenspan, who was once laudably referred to as “Maestro” for his supposed astute stewardship of U.S. monetary policy, commented last week on the nation’s current political and economic climate:

We’re not in a stable equilibrium.  I hope

we can all find a way out because this too

great a country to be undermined, by how should

I say it, crazies.*

Well, if there is anyone who knows how to “undermine” an economy, it is the Maestro, since it was his “crazed” policies that brought about the 2008 financial crisis which ushered in the Great Recession that continues to this very day.

In a demonstration of how truly clueless Greenspan is about economic conditions, he cautioned that the U.S. is “headed toward stagflation – a combination of weak demand and elevated inflation.” Memo to the Maestro: stagflation is already here and has been for quite a while, especially when real economic gauges are used instead of the phony baloney numbers routinely lied about by the BLS and other corrupt state agencies.

The “crazies” that Greenspan refers to are, of course, the “deplorable” Trump supporters and The Donald himself, who the Maestro contends is responsible for “the worst economic and political environment that I’ve ever been remotely related to.” Oh, poor Alan has to suffer through an election where one of the candidates has not been approved by the ruling class.  Too bad.

Instead of carping about the current state of political affairs which, at least financially, he and his successor, Helicopter Ben Bernanke, largely contributed to, Greenspan should be grateful that he has had no reprisals for the financial crimes, chaos, and misery that he has afflicted upon the world.  Instead of significant jail time or worse, Greenspan is free to pontificate on current events, receiving hefty financial remuneration, and just as important for top members of the governing elite, ego-enhancing hosannas!

While Ben Bernanke has been a lifelong committed Keynesian and inflationist, Alan Greenspan, at least in his younger days as a member of Ayn Rand’s circle, was a free marketer who spoke positively about the efficacy and moral soundness of a gold standard.  That he abandoned these beliefs to go over to the Dark Side is further cause for retributive justice.

Greenspan’s betrayal was similar to those economists of the 1930s (Lionel Robbins most notable) who were followers of the teachings of Mises and Hayek, yet were swept away by the fanciful Keynesian deluge of the day and abandoned their economic senses and conscious for similar allurements which seduced the Maestro.  Had these economists as well as Greenspan stuck to their original principles, the world may not be in its current financial mess.

While Greenspan was lamenting the state of political affairs, the head “crazy,” Donald Trump, commented on the Maestro’s former place of employment.  Unlike the Maestro, the financial media, and just about every other politician, Trump had some perceptive things to say about the nation’s central bank, showing again that the billionaire businessman’s political acumen is quite good:

The Fed is being totally controlled politically because

Obama wants to go out with no stock market disruptions.**

The Republican Presidential hopeful could have easily added that the Fed’s policy is being deliberately carried out to ensure his Democratic opponent’s victory this fall.  A booming stock market is perceived by most as an indication of a vibrant economy.

Trump does not buy the supposed “independence” of the Fed from political influence and the conduct of monetary policy solely for the well being of the economy:

If it was a choice between the right decision and a political

decision… The Fed would choose the political decision.

Throughout the campaign, Trump’s instincts on political and economic matters have been quite good and hopefully if he does become chief executive those instincts will translate into positive change.

A Clinton Presidency would assuredly mean a continuation of the ruinous policies of Greenspan and his successors.  The election of Donald Trump could not only mean a new direction in monetary policy, but the public demotion of the likes of Alan Greenspan who will hopefully fade into the sunset never to be heard or seen from again.

*Rich Miller, “Greenspan Worries That ‘Crazies’ Will Undermine the U.S. System.”  Bloomberg.  14 September 2016.  http://www.bloomberg.com/news/articles/2016-09-14/greenspan-worries-that-crazies-will-undermine-the-u-s-system

**Tyler Durden, “Trump Slams ‘Totally Politically Controlled’ Fed, Sees No Rate Hike Until Obama Has Left.”  Zero Hedge. 15 September 2016.  http://www.zerohedge.com/news/2016-09-15/trumps-slams-totally-politically-controlled-fed-sees-no-rate-hike-until-obama-has-le

Antonius Aquinas@AntoniusAquinas

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The Donald Versus Killary: War or Peace?

trump-vs-clinton

Although history does not exactly repeat itself, it does provide parallels and sometimes quite ominous ones.  Such is the case with the current U.S. Presidential election and the one which occurred one hundred years earlier.

The dominating question which hung over the 1916 campaign was whether the country would remain neutral in regard to the horrific slaughter which was taking place on the European battlefields in probably the greatest act of mass insanity ever recorded, World War I.

President Wilson had maintained that the U.S. would continue a policy of strict neutrality.  By all indications, the nation wanted no part of the war, with the President’s own party at his nomination delivering an emphatic “No” to any foreign intervention.

Although Wilson maintained a neutral policy through the election and briefly afterwards, his advisors and Cabinet had been lobbying for war and continued to do so even more vehemently after the President’s re-election was secured.  Nearly all of them, including Wilson himself, had deep financial, family, and political ties to J.P. Morgan.  Wilson received considerable Morgan financial backing for his two presidential runs.

The Morgan operatives within the Administration were pushing for war because the House of Morgan had “invested” heavily in the “Allied” cause and a defeat or a negotiated settlement with any favorable concessions to Germany would be a catastrophe for Morgan financial interests.

Germany understood the cozy Morgan relationship with the Wilson Administration and the Allied powers as Morgan representatives, especially the sinister Colonel House, had repeatedly rebuffed peace proposals from the Central Powers.  The Allies and their opponents understood that Wilson’s re-election would mean U.S. entry into the conflict.

Tragically, for the U.S. and for the course of war-ridden 20th century history, Wilson capitulated and brought the U.S. into the battle despite the campaign promise of neutrality and no real German threat.  The House of Morgan’s financial bacon was saved at the cost of a devastated Western world.

One hundred years later, the U.S. and the world stand at another critical juncture and face a similar choice: the election of a known war criminal who has not only shown no remorse for her murderous policies, but promises, if elected, to continue them; or the election of a candidate who has spoken of negotiating with America’s supposed principle enemy, a possible pull back in the nation’s unsustainable global empire, and the enactment of a legitimate use of federal authority – protection of the country’s borders.

It is difficult to believe that Donald Trump is not sincere in seeking accommodation and friendly relations with Russia.  It would be far easier for the billionaire businessman and would most likely secure his election if he followed the bellicose policy of the Democrat and Republican Presidents of the recent past who have continued to antagonize and threaten Russia.  The most hopeful sign for peace coming from the U.S. in quite a while has been Trump’s talk of de-escalation of tensions and a pledge to place American interests first in foreign policy, instead of mouthing the global domination designs of the crazed neocons.

Some of the things he has said about Vladimir Putin and Russia have been, to say the least, quite encouraging:

I think I would get along with Vladimir Putin.

I just think so.*

It is always a great honor to be so nicely

complimented by a man [Putin] so highly respected

within his own country and beyond.**

I have always felt that Russia and the United States

should be able to work well with each other towards

defeating terrorism and restoring world peace, not

to mention trade and all of the other benefits derived from

mutual respect.***

Although not a non-interventionist, a President Trump is unlikely to provoke Russia or China into a civilization-ending conflagration and has displayed the instincts of a true peace maker.

There is, however, little hope for a reduction of global tensions if his sociopathic opponent becomes Commander-in-Chief.  Killary has repeatedly demonstrated that she is a willing tool of the neocons and the global financial forces that will profit mightily from continued U.S.- instigated conflicts.  If she makes it past the finish line, either legitimately or more likely through fraud, she will surely do their bidding.

For once, politicians and pundits who routinely call every election “the most crucial of a generation” are right.  This year’s Presidential election is the most significant one since at least the fall of the Soviet Union and Eastern Bloc.  If the U.S. electorate wants to avoid the disaster not only to its own land and the world that followed in the wake of the 1916 election, there can be only one choice in November of 2016.

* , “Trump Says he Would ‘Get Along Very Well’ With Putin.”  NBCNews.com 30 July 2015.

**Maxwell Tani, “Vladimir Putin’s Praise is ‘A Great Honor.'”  Business Insider.  17 December 2015.

***Ibid.

Antonius Aquinas@AntoniusAquinas

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John Maynard Keynes’ “General Theory” Eighty Years Later

Keynes Gen Theory

To the economic and political detriment of the Western world and those economies beyond which have adopted its precepts, 2016 marks the eightieth anniversary of the publication of one of, if not, the most influential economics books ever penned, John Maynard Keynes’ The General Theory of Employment, Interest and Money.  Sadly, even to this day, despite its thorough refutation by lights such as Henry Hazlitt and other eminent scholars, The General Theory, which spawned “Keynesianism” and its later variants, remains supreme in academics, financial markets, and public policy.

Despite its outlandish theoretical flaws and nonsensical economic jargon and the catastrophic empirical evidence of its failure to prevent financial downturns or “stimulate” sustainable growth, Keynesianism remains the ruling paradigm of economic thought.

Why?

A number of trenchant reasons have been given for the General Theory’s continued dominance, however, one stands above all else: Keynesian economics provides the intellectual justification for economists, statisticians, technocrats, bureaucrats, and policy wonks in their exalted positions as “fine tuners” of economies the world over.  Since markets are to Keynes and his disciples inherently unstable from erratic investment spending and aggregate demand, it is up to these theoreticians steeped in the knowledge of their master’s teachings to ameliorate any economic fluctuations.

The General Theory came on the scene at a propitious time during the height (or more accurately the depth) of  the Great Depression, which in 1936, despite Roosevelt’s New Deal and other Western nation states’ initiatives, had not improved conditions.  Keynesianism was actually a “middle way” between all out Soviet-style central planning and that of laissez-faire capitalism.  Primarily through fiscal policy, the economy would be kept on an even keel under the astute management of Keynesian-trained economists.  Naturally, this appealed to academics and intellectuals the world over who correctly envisioned positions of power and influence in expanded state apparatuses.

As history has shown, Keynesianism was to become more than a remedy for the Depression, but would be applicable after the crisis dissipated.  The General Theory was based, in part, on the (false) notion that the capitalist system is inherently unstable and is, therefore, in need of state intervention.  Keynes  deliberately ignored the scholarship at the time, which demonstrated that the instability was not a “market failure,” but a monetary disorder caused by artificial credit expansion generated by the central banks, especially the Federal Reserve.

The enthusiasm for The General Theory came at first from younger economists while it was (rightly) dismissed by many of their elders as incomprehensible.  Yet, its lack of clarity was appealing to the novices, since they would become the Creed’s interpreters.

Not all, however, were entirely overwhelmed by their mentor’s magnum opus as Paul Samuelson candidly admitted:

[The General Theory] is a badly written book:

poorly organized. . . . It abounds in mares’ nests

of confusions. . . .  I think I am giving away no

secrets when I solemnly aver – upon the basis of

vivid personal recollection – that no one else in

Cambridge, Massachusetts, really knew what it

was all about for some twelve to eighteen months

after publication.*

Despite such an assessment, Keynesianism was never seriously challenged by its adherents, it opened too many lucrative policy making doors to be refuted.

That Keynesianism continues to reign supreme, despite its theoretical and empirical bankruptcy, speaks volumes of the state of Western intellectual and academic life.  Instead of the pursuit of truth and the refutation of error, Western intelligentsia is primarily concerned with securing privilege and power for itself.  At one time such status was gained by honest inquiry into social questions and issues, now it is obtained in the justification of the expansion of state power.  Very few turn down such enticements!

Societies are the product of ideas.  Since the release of The General Theory, the Western world has been under the destructive sway of Keynesianism, which has resulted in stagnation, financial turmoil, and eventual collapse.  Until Keynes and his nutty theories have been refuted, the economic malaise will continue.

Quoted in Murray N. Rothbard, “Keynes, the Man.” In Mark Skousen, ed., Dissent on Keynes: A Critical Appraisal of Keynesian Economics.  New York: Praeger Publishers, 1992, p.184

Antonius Aquinas@AntoniusAquinas

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