Store the Acorns

As things go from bad to worse, economists are madly turning again to the theories of John Maynard Keynes, who argued that contrary to what one might think, the way out of a financial crisis is for government to spend like crazy in order to get things back on an even keel. Keynesian theory might have made sense in other times, but our government has already been spending like crazy. The point is to encourage people to spend, rather than do what people used to do, which is save money against a rainy day. But people have been spending, and getting deeper and deeper into debt. Ergo, disaster on top of disaster, like a sundae made of chocolate sauce with chocolate sauce poured over it.