Wednesday, July 15, 2009

Consumption Does Not Drive The Economy!

Unless something is produced there is nothing to consume. Unless something is produced there is no income to buy whatever it is you want to consume.

The typical economic ignorance that results from Keynesianism and all of the other forms of socialism permeates mainstream media. The U.S. is getting very close to finding out what it is like to live in the Keynesian long-run, where consumption comes face to face with no production.

Another word for this plight is deprivation.

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Go here to read about MACRO & MICRO Economics Renewed.

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