Article

2010-12-23 Economy

Hudson: Financial Interests Dictate Sovereign Policy

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Posted by tipper 2010-12-23 01:36|| || Front Page|| [1 views ] Top

#1 This is such nonsense he managed to write

Real experts would follow the advice that John Maynard Keynes

without irony or sarcasm.

Follow my advice and avoid the rest of the drivel.

Posted by Bright Pebbles 2010-12-23 07:36|| 2010-12-23 07:36|| Front Page Top

#2 Bright Pebbles,
Huddo is an old lefty from way back but he is also anti neoliberal, which is the current economic ideology, which has got us into this mess. He has made tremendous strides in analysing what went wrong with the credit casino led by the banks and this is one of the best I've seen.
Re. Keynes, note he quotes the earlier one, not the General Theory one.
Real experts would follow the advice that John Maynard Keynes gave in the 1920s regarding German reparations and Inter-Ally debts. It is better to wipe out bad debts than to try to pay creditors at the cost of reducing capital formation, living standards and public spending on education, health care and other basic infrastructure. A wise government would subordinate the financial sector to promote economic growth, capital formation and rising living standards.
In other words, let the banks and their creditors go bust. Why should ordinary people such as in Ireland suffer because of the sins of the plutocrats?

Posted by tipper 2010-12-23 20:33|| 2010-12-23 20:33|| Front Page Top

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