tag:blogger.com,1999:blog-3758330678390419129.post7922327217547962455..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: The Keynesian Myth about World War II and ProsperityRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-1787886609507206322012-07-12T15:18:04.339-04:002012-07-12T15:18:04.339-04:00Walrus... fucking prove it. :)Walrus... fucking prove it. :)Inquisitornoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-85653340886706894362012-07-12T09:18:37.564-04:002012-07-12T09:18:37.564-04:00I smell the Broken Window Fallacy...I smell the Broken Window Fallacy...JFFnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-20318915818448995982012-07-12T09:17:33.809-04:002012-07-12T09:17:33.809-04:00Did you miss the "private-sector" qualif...Did you miss the "private-sector" qualifier?<br /><br />Government, i.e., non-productive, dead-end spending, did fall in 1946 because the war was over, materiel production ceased, conscription ended, and rationing was abandoned, so overall GDP did fall which is the number the BEA is reporting.<br /><br />This is a useless number as is any "growth" statistic that includes any JFFnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-76716964408969037562012-07-12T06:53:30.506-04:002012-07-12T06:53:30.506-04:00Private Domestic Investment and Exports both skyro...Private Domestic Investment and Exports both skyrocketed in 1946, obviously, as the nation rebuilt the rest of the world and turned newly-minted government production into newly-minted private production. That's filling in capacity utilization.Walrusnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-30569722349348786612012-07-12T06:50:35.194-04:002012-07-12T06:50:35.194-04:00GDP fell by 10.9% in 1946, according to the most r...GDP fell by 10.9% in 1946, according to the most recent data from the Bureau of Economic Analysis. Unless there was an incredible bout of deflation there's simply no possible way that converts to a growth rate in real GDP of 29%.Walrusnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-74220464173470337692012-07-11T21:00:43.302-04:002012-07-11T21:00:43.302-04:00Speaking of government-lovers, here is the head ch...Speaking of government-lovers, here is the head cheerleader:<br /><br />http://www.zerohedge.com/news/krugman-vs-cnbc-round-1Boetienoreply@blogger.com