Wednesday, September 17, 2008

Global Keynesian Economics

... has a mighty payoff - debt! Everyone across the globe is getting into the act. Governments everywhere are "managing their economies" and producing their best product - debt.

US debt - $9.7T
The following are all normalized to the size of the US economy.
German debt - $9.4T
French debt - $9.2T
English debt - $5.5T

Just think - all of these monstrous debts were run up during a time with almost no major crises or wars. Instead, it was the entire Western world managing their economies just like Keynes said we should. Balance the budget? Save for future emergencies? Nonsense! Let's manage our economies! Yay!

Think what your life would be like if you managed your money at home like this.


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