In an outrageous article published by Bloomberg, columnist Matthew Lynn declares Keynes to be a retard and Keynesian economics to be a bunch of hogwash:
And just as the Keynesians were wrong three decades ago, they are wrong now.
Such agitprop must be crushed by the State! No market journalist should be allowed to speak such heresy! Of course, Lynn doesn’t stop there!
Stimulating the economy isn’t working.
In fact, it’s only making it worse. Consumers and businesses don’t want rising taxes. A falling currency pushes up the cost of everything the U.K. imports, stoking inflation. Savers get decimated, and yet the banks remain reluctant to lend because they rightly believe the economy is in the doldrums.
Recipe for Recovery
What’s needed is a total change of direction. Get the deficit under control. Raise interest rates to restore confidence in the pound, and reward saving. Cut taxes to stimulate enterprise and investment.
In response to this heresy, God King Bernanke declared a fatwa against Lynn ordering the IRS to assassinate him with extreme prejudice. Lord Bernanke declared that he would create 1 gagillion dollars out of thin air as a reward for Lynn’s head.
IRS agent Joseph Stalin was quoted as saying “Jihad has been ordered by The Lord against the infidel Lynn. No one shall escape unaudited! I will throw this infidel into the black pit of derivatives and watch him rot in a hell of hyper-stagflation!”
The Obama administration, which recently approved state assassination of US citizens, felt the actions taken by Lord Bernanke were not adequately forceful. The administration was disappointed Lord Bernanke did not also include Lynn’s family in the fatwa.