The Essentials

The United States Government borrowed $621 Billion in the first quarter of 2018, in part to retire debt and as a result of the massive tax corporate tax cuts granted in January. This is about the same as the amount of cash borrowed to "save" the financial system in Q1 of 2008.

No government in human history has ever borrowed money like this....welcome to a world where Keynes Rules!

Was Keynes right?  

Here are two short YouTube videos (12 minutes) that almost perfectly encapsulate the essential argument between Keynes and Hayek about government's role in the economy, especially when faced with the need to confront down times. These are, quite simply, brilliant. 

https://www.youtube.com/watch?v=d0nERTFo-Sk

https://www.youtube.com/watch?v=GTQnarzmTOc

If we are wrong about Keynes after going "all in" for 10 years, there may be a rough decade to come!