In response to:

In First Quarter, GDP Grew Less than Expected. Unexpectedly.

moderateGuy Wrote: Apr 27, 2012 5:47 PM
With all those "unexpected" and "less than forecast" economic news, I have a question: who are the absolute morons, who actually expect and forecast this economy to seriously grow with Obuma in charge?
Charles SWVA Wrote: Apr 27, 2012 5:59 PM
Morons? I thought they were Keynesian economists.

Oh yeah, I forgot.
AmericanObserver Wrote: Apr 27, 2012 6:33 PM
Well, if you are so much smarter, can you please explain why the high majority of professional economists self-identify as 'Keynesian,' and why 'Keynesian' has been the most successful - and accurate - economic theory and policy tool?
Petrus64 Wrote: Apr 27, 2012 6:50 PM
It creates a vicous cycle. Have you noticed that yet?
AmericanObserver Wrote: Apr 27, 2012 6:59 PM
What's the "it" and what is the "vicious cycle?"
Petrus64 Wrote: Apr 27, 2012 7:14 PM
Keynesian stimulus to solve the problem.

Every time it gets done, the cycle gets shorter. Just like any drug tends to do.
Petrus64 Wrote: Apr 27, 2012 7:14 PM
Keynesian stimulus to solve the problem.

Every time it gets done, the cycle gets shorter. Just like any drug tends to do.
RayTheAnarchoCapitalist Wrote: Apr 28, 2012 9:54 AM
Keynesian economics predicts that stagflation cannot exist. The 70's proved that Keynes was wrong. Japan's 20 year long lost decade, in which they had a Keynesian stimulus almost every year, proves that Keynes was wrong. The current morass proves that Keynes was wrong. The Great Depression and the Great Recession of 1921 prove that Keynes was wrong.
algae Wrote: Apr 29, 2012 9:30 PM
AØ - "high majority" -

Well, that much probably true. Loaded to the gills with crack or whatever else they've been doing up.

Keynesian failure rate? Just ask the Nazis. It is, at best, a short-sighted "fix" that always results in meltdown. Always.

In the first quarter of the year, the U.S. economy slowed from last quarter's 3 percent growth to 2.2 percent, according to the latest from the Department of Commerce:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 2.2 percent in the first quarter of 2012 (that is, from the fourth quarter to the first quarter), according to the "advance" estimate released by the Bureau of Economic Analysis.  In the fourth quarter of 2011, real GDP increased 3.0...