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A Primer on John Maynard Keynes

BEGIN TRANSCRIPT

RUSH: Jeanette in Greer, South Carolina, I'm glad you waited. Welcome to the EIB Network.

CALLER: I wanted to talk to you about an article that I read recently in the Wall Street Journal that says that because there is like several vacancies, I think three in the Fed, that Obama has an opportunity now to reshape the Fed, and somebody brought up Paul Krugman's name, and in the article it said he is just, you know, a definite Keynesian. And the reason I'm talking about -- or I called you, rather, is to tell you that I don't think that the American public really understand John Maynard Keynes economics, and they don't understand that he was a very devout socialist and Marxist and that he surrounded himself with Marxists and that his general theory which he presented to Roosevelt in 1936 really was some kind of what they thought was a politically genius stroke because what it did was it pawned off socialism to the world under the guise of saving capitalism. And this is not something that I've made up. If you look on the Internet under a Web page called Keynes at Harvard, it's all there.

RUSH: Well, let me say this, and let me be clear when I say this. This is very simple to do. You want more people to know who John Maynard Keynes was. Okay, attention, class. John Maynard Keynes. If you want to know what Keynesian economics is, you're living it: Barack Obama, massive government spending, massive debt, massive redistribution of wealth, the lie that government spending, deficit spending can propel economic growth. She is dead right that they tricked everybody into thinking this is the way we're going to save capitalism! They had no intention of saving capitalism. Just like Obama, they wanted to destroy it and replace it with socialism or Marxism or fascism or whatever you want to call it. And they got pretty close. Then World War II came along and screwed 'em up. If FDR had kept us out of World War II we might not know America as she is today. But I don't believe in "if". "If" is for children. Roger Whittaker, 1972.

END TRANSCRIPT

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