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The Keynesian Counterfactual is Japan

- Michael Pento - Delta Global Advisors

What's interesting about this is if you try to point out the Japanese failure of pure Keynesian policies to a liberal/Keynesian, he's just say "The US isn't the same as Japan, it's a bigger country, so Keynesianism works here." But then when you point out how other socialist policies failed horribly (like in the USSR), they just point to how Denmark or Finland have socialist policies that work fine...for the time being. And there's no way to point out the cognitive disconnect.

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Beginning of the headline :We heard the "surprising" news last week that the Japanese economy shrank at an alarming 6.8 percent annualized rate in the three months through June, its biggest quarterly contraction since the 2011 earth quake and tsunami. Proving Japan's greatest national disaster, Abenomics, has failed and the Japanese economy has fallen victim to the scam called Keynesian economics. Defined as the belief that a country can tax, spend, devalue and inflate its way to prosperity. Since the popping of... Read More

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