It was French economist Jacques Rueff who revealed the scam more than half a century ago. The whole idea of Keynesian stimulus, he explained, was to cause inflation…which would reduce the real price of labor. In a modern democracy, politics prevents wages from falling.
August 3rd, 2009 | Bill Bonner | 0 comments | Continued
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| All Ordinaries | 4318.900 | ||
| S&p/asx 200 | 4242.800 | ||
| China Shanghai Co | 2342.05 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 9054.81 | ||
| Indu | 0.00 | ||
| S&P 500 | 1351.77 | ||
| Ftse 100 | 5905.70 |
