Why is keynesianism that bad?

[FortuneCookie]

Can somebody please explain to me why it is bad for a government to barrow and spend money/promissary notes if the economy is in a recession/depression?

Why do you guys think this won't help jumpkick and recover the economy?

Thanks

 

[Sola_Fide]

 

[Isaac Bickerstaff]

IF money was based on production, we could survive a bout with Keynesianism, but since the only way to pay interest on borrowed money is to borrow more money, Kenesiansim applied to Federal Reserve monetary policy is the worst form of slavery.

 

[Athan]

Can somebody please explain to me why it is bad for a government to barrow and spend money/promissary notes if the economy is in a recession/depression?

Why do you guys think this won't help jumpkick and recover the economy?

Thanks

It is bad at the state or regional level. If a city/town government decides to borrow, spend money, promissary notes to jump start an economy, that is fine! A mistake at that level can be recovered OR won't effect an entire region when it creates a bubble. To do it on a state or nationa level leads to market distortions on a state and national level and possibly effects international trade. Then entire industries are pulled into the bubble's gravity. The banking industry took down home builders, realtors, and a whole host of industries tied into housing bubble.