In a piece that I wrote in March 2009 (see here) I predicted from the signs not only the failure of Obama's grand stimulus plan to end the Great Recession (which is worsening as I write) but that this failure would mark the end of Big Government Liberalism and the long overdue death of Keynesian economics in America. And it looks as though my forecast was correct. For last Sunday night on the Senate floor Dick Durbin uttered words never heard in that chamber before. Bemoaning the bipartisan deal on the debt (which he voted for) Durbin said that it meant the DEATH OF KEYNES. This is what he said with an historic ring to it:
"The Republicans are killing Keynesian economics with their attempt to cut spending as the economy rebounds from a recession," wailed and warned Durban. "I would say ... that symbolically, that agreement is moving us to the point where we are having the final interment of John Maynard Keynes, He nominally died in 1946 but it appears we are going to put him to his final rest with this agreement (see)."
Aside from the fact that after decades of repeated failure Keynesianism has dug its own grave this oracular statement is coming from the man who served with Obama as Senator from Illinois for three years. In fact, Durbin was born in 1944, or the 44th year of the 20th century denoting
Obama's presidency number. Moreover, on the day when Durbin gave his death of Keynes speech it was the 760th week of his senatorship. 760 is a multiple of 76 10x, or 76 without the zero, the exact numeric value of the name John Maynard Keynes, hence:
Januray 3, 1997 (Durbin's swearing in as Senator) to July 31, 2011 (Durbin's speech)=14 years, 6 months and 28 days = 5322 days=760 weeks.
JOHN MAYNARD KEYNES
1685 4175194 257551=76 (see appendix)
While Dick Durbin blames Republicans for the death of Keynsianism it's the man standing next to him that's thankfully killing it.
Furthermore, Durbin made his speech on the 44th president's 922nd day in office; this gives us two sets of numbers: 922 and 44. What is remarkable here is that if we reverse 922 to 229 and turn it into a five digit number ending in 44 we get 22944. Amazingly, this is the exact number of days separating Keynes' death from the economically ominous day of February 13, 2009, the day Dick Durbin and 59 senators passed the monstrous $860 billion Keynesian stimulus bill, hence
January 20, 2009 (Obama's inauguration) to July 31, 2011 (Durbin's death of Keynes speech) = 922 days.
April 21, 1946 (Keynes' death) to February 13, 2009 (passage of stimulus)= 62 years, 9 months and 22 days, or 22944 days.
And lastly, when Keynes died in 1946 he was 62*, which are the number of years separating his death from the election and swearing in of Obama as President.
*Keynes was born June 5, 1883.
Durbin is right, the death of Keyensian economics is at hand. Keynes can't fix recessions; can't fix depressions; can't fix stagflation; can't stimulate consumption or demand to get weak economies moving again. Put money in peoples' pockets during a recession and they save it or pay down their debts. Give funds to state and local governments to buy goods and services from the private sector and its used to balance their budgets. Use it to fund public works projects (as the Japanese have been doing for 22 years and Hoover and FDR did)) and a job is destroyed in the private sector for every one government creates (as Henry Hazlitt said). Indeed, though Keynesianism has been tested to tears for over 75 years internationally its die hard adherents like fanatic Paul Krugman cry NOT ENOUGH MONEY HAS BEEN SPENT. Enough is never enough for them; it's not enough for Japan with its 200% debt to GDP, or for Greece, Spain, Portugal and Italy which have spent themselves into bankruptcy. Their message is spend baby spend whatever the cost until the magic number is reached when Keynes will work (whatever that is). But what we've spent on stimulus is enough for most Americans who intuitively understand what Ronald Reagan said that government spending and intervention is the problem. In short, Keynsianism is a failed economic theory that belongs to the dust bin of history; and that's where it's going along with Big Government Liberalism and Conservatism thanks to Barack Hussein Obama's colossally reckless spending and jobless, growthless stagflationary presidency.
Postscript
We mustn't overlook the unmistakble sign that Obama signed the debt reduction bill on the August 2nd deadline. As I recently wrote in THE GREAT DEBT CEILING SHOWDOWN AND THE SOLUTION OF WARREN HARDING this was the 88th anniversary of Warren Harding's death the Father of the Roaring Twenties whose economic policies (the opposite of Keynes) turned a deep and painful recession (some call it a depression) with a jobless rate of 11.7% into a roaring recovery with less than 4% unemployment in three short years. It seems miraculous but not if you understand that government was a ball and chain around the economy, a manacle that Harding shattered. For Harding, followed by Coolidge, slashed taxes, spending, and government regulations. They shrunk the size of government and expanded the private sector giving it more freedom to grow and prosper putting millions back to work. Harding/Coolidge is the way to unleash America's innovative genius and entrepreneurial energies. It's the ideal model for economic recovery, and I challenge anyone to show me differently.
APPNEDIX
The numerological system used in this work is as follows
| 1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
| A |
B |
C |
D |
E |
F |
G |
H |
I |
| J |
K |
L |
M |
N |
O |
P |
Q |
R |
| S |
T |
U |
V |
W |
X |
Y |
Z |
|