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RE: Why Keynesian Economics will never work.... It's stupid, for starters...
...the point is the borrowing off the future, or taxpayers - to pretend its a moving economy.
Short sighted and doomed to failure without something like war to reset things.
Such comparisons are highly misleading in my opinion.
It's the same end result. A sucking of people resources away from growth with production.
There's a reason the deep state have been pushing for a war anywhere they can start one..
It is not, in my opinion. The 1934 Bank of Canada Act gave the Canadian National Bank the ability to issue non-interest loans to federal, provincial and municipal governments for infrastructure projects. Such projects as the Saint Lawrence Seaway, the second largest naval fleet in the world prior to the US' late entrance into WWII and the Trans Canada Highway were a few such projects.
Even with such huge funding Canada's national debt had not been greater than
20.3 billion, which was the final year of using The Bank of Canada Act. The present Prime Minister's father, Pierre Trudeau, stopped using the national bank in this way for a seat on the G7. Canada is the only country in the G7 with a National Bank.
The practise then became making government loans from banks with compound interest. The following graph will show you the difference to the national debt this practise has made.
P.S. It should be mentioned that this was done just prior to the 80's double didget interest rates, coincidentally.
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..
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.
Rothchilds banks...
Canada: Bank of Canada – Banque du Canada
Are you suggesting that the nationalized Bank of Canada is a Rothchilds' bank?
No, I was just pointing that out...I just did a quick search, is all.
Pointing what out?
The Rothschilds are in Canada...which is a very bad omen as to 'who' is running 'what' - behind the scenes.