Keynesian economics

Submitted by ncThinker on Thu, 05/20/2010 - 9:00pm

The link below is a brief but clear interview with Chris Whalen during which he explains that what is being passed off as a housing recovery – evidenced by stats such as housing starts – is actually just an extension of massive government subsidies. Subsidies that now extend to actually paying builders to build homes for a market that has no demand.

Thus, instead of saying “recovery,” the government’s language would be far more accurate and far less misleading were it to say something more along the lines of, “additional deficit spending is adding to the massive overhang of unwanted houses on the market.”

http://www.ritholtz.com/blog/2010/05/whalen-housing-recovery-government-subsidy/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+TheBigPicture+(The+Big+Picture)

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Thinker, you need to

Submitted by scharrison on Thu, 05/20/2010 - 11:57pm.

come up with a new title. I'm sure it was a mistake on your part, but "ebonomics", especially in the context of your linked story, is a racial slur that refers to government pumping money into (African-American) urban neighborhoods.

You probably meant to say "Obamanomics", which is...well, it's only slightly less offensive, but it's a start.

Keynes Doesn't Work

Submitted by ncThinker on Fri, 05/21/2010 - 8:41am.

Good point. However, I won't blame Obama for the nonsensical thinking of those that prescribe to Keynes.

link

Submitted by ncdave4life (not verified) on Sat, 05/22/2010 - 12:54pm.

Here's a clickable version of your link:

http://www.ritholtz.com/blog/2010/05/whalen-housing-recovery-government-subsidy/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+TheBigPicture+%28The+Big+Picture%29

The comment editor has a feature for easily creating such links. See that odd-looking" button above the comment entry form, to the left of the [B] button?
That's the button for creating links. Simply select the text that you want to make into a link, click on the link" button, and fill in the blanks.

You can also make links manually, by entering the HTML. Here's an example:
http://www.w3schools.com/html/tryit.asp?filename=tryhtml_links

Dave