Keynes Is Dead

[nathanm]

I was trying to figure out where we were going with this.  Don't mind thread shift, but at least point us in the right direction. 

TBH, I often don't know where I'm going until I get there.  

Seriously, though, my point was that there has not been the massive expansion in government spending that would correspond to any real Keynesian effort, so declaring it dead is premature.

[Gaspar]

TBH, I often don't know where I'm going until I get there.  

Hey man, it's the journey we learn from, not the destination.

[Conan71]

TBH, I often don't know where I'm going until I get there.  

Seriously, though, my point was that there has not been the massive expansion in government spending that would correspond to any real Keynesian effort, so declaring it dead is premature.

If Keynesian spending takes the form of orange barrels, there's a shitload of Keynesian spending happening in Tulsa right now. 

[nathanm]

If Keynesian spending takes the form of orange barrels, there's a shitload of Keynesian spending happening in Tulsa right now. 

Largely offset by the massive decline in state and local spending.

[Conan71]

Largely offset by the massive decline in state and local spending.

Actually, I believe some of the ODOT work was already funded prior to this.  As well the I-44 project was funded by the Feds prior to stimulus funding wasn't it?

Tulsa has their own $400mm+ package which is entirely funded on the backs of Tulsans.

I've not seen a full accounting as far as trends in total combined Federal, State, and Municipal spending.  I think we can all agree that Federal spending has skyrocketed, in the last 10 years, can we not?

[Hoss]

Actually, I believe some of the ODOT work was already funded prior to this.  As well the I-44 project was funded by the Feds prior to stimulus funding wasn't it?

Tulsa has their own $400mm+ package which is entirely funded on the backs of Tulsans.

I've not seen a full accounting as far as trends in total combined Federal, State, and Municipal spending.  I think we can all agree that Federal spending has skyrocketed, in the last 10 years, can we not?

Dude, I just can't take you seriously now with that avatar...that's funny.

Then again, with mine being Jay, could be a case of the pot calling the kettle....

Snoochie...

[Conan71]

Dude, I just can't take you seriously now with that avatar...that's funny.

Then again, with mine being Jay, could be a case of the pot calling the kettle....

Snoochie...

Actually the avatar reminds me of my Yorkie just a little bit.  I couldn't resist when I saw that in the other topic.

[Rico]

Keynes Is Dead

Man.... I didn't even know he was sick. It's a sad day.

[nathanm]

I've not seen a full accounting as far as trends in total combined Federal, State, and Municipal spending.  I think we can all agree that Federal spending has skyrocketed, in the last 10 years, can we not?

Federal spending has indeed been increasing dramatically ever since 1950ish.



That graph is inflation adjusted, being in constant dollars.

Although, to be fair, GDP has increased more dramatically, so there's been more money to spend while taking up the same share (actually less, since about 1983ish) of the economy:



As far as combined spending goes, I'm working on whipping up a chart using BEA data. It looks like using their data raw double counts transfers from the federal government to state and local governments, though, so I've got to look for the correct data series to verify my initial assessment, and if true, take it out of the state/local outlay data.

It doesn't make much sense to count the federal government's outlay in the federal number and then count that same money again when the state or local government spends it.

[Conan71]

It doesn't make much sense to count the federal government's outlay in the federal number and then count that same money again when the state or local government spends it.

Go right ahead, Nathan, it fits my paradigm better that way 

[Gaspar]

Go right ahead, Nathan, it fits my paradigm better that way 

The cost of each government penis washing should only be counted once because, after all, two wongs doesn't make a right. 

[heironymouspasparagus]

Just no sense of history.

I am wondering why the companies of the Murdochian's here aren't hiring.  The place I'm at has hired several thousand in the last year (yeah, it is a big company) and still accelerating.  Profits are up.  Business is up.  Also, headhunter activity is way up.  Am getting 5 and 6 a month now, compared to only one a month or every other month in 2008 thru early 2009. 

Unfortunately, so much of it is oil related in Tulsa, it just isn't that interesting.  (A layoff would definitely change that, but for now...why bother.  Don't think my company is going to slow any time soon.)

[Conan71]

^ And, apparently, you don't have to pass a UA screen either. Bonus!

[Gaspar]

More good news for the Keynsians. . .The Senate just passed another 30Billion in stimulus.

Sit back and watch the jobs roll in.

Keep breaking windows.

[heironymouspasparagus]

The rest of the story - the 30 billion assistance for small business was something the Dem and Rep agree on.  Something McCain and Palin campaigned on.  Until it comes time to "put up or shut up".  Then it's just the same old 'party of no'.

Like cap and trade - again a major campaign issue of McCain/Palin.  Until the Dem's agreed and said yes, let's do that.  Then it's again just the same old 'party of no'.

But I wouldn't expect it to be any other way.