RE: Why Keynesian Economics will never work.... It's stupid, for starters...
You misunderstand the big picture, my friend...
If you have to borrow and not produce, to make the economy - it's on borrowed time....
1o years or a 100 years - it's the same outcome.
Borrowed money cannot create a sustainable economy only spin plates..
...the 'hockey stick' is not just a product of the last decade or so - but the chickens coming home to roost from nearly a century... of this philosophy.
Look at the welath in the US - but it was destined to collapse because borrowed money is not a sustainable model..
Such projects as the Saint Lawrence Seaway, the second largest naval fleet in the world
A perfect example. In what way does all the money going into this project produce anything? (except war)
The money was taken from future generations labor production, via borrowing.
You seem to be missing my point. Borrowed money implies you are borrowing it from someone with interest. By today's standards that is the banks and the federal reserve in the case of the US. The debt incured through QE will eventually drag the economy down once the cost of servicing the debt increases due to the rise of rates.
In the example of Canada's National Bank there was the situation where the government owned bank prints more funds and distributed it to all levels of governments, interest free, for infrastructure projects.
If you don't feel that the Saint Lawrence Seaway or the Grand Coulee Dam have not paid for themselves many time over then we must simply see economics very differently.