{"id":36993,"date":"2010-12-02T01:01:01","date_gmt":"2011-05-19T00:15:33","guid":{"rendered":""},"modified":"2011-05-19T00:15:33","modified_gmt":"2011-05-19T00:15:33","slug":"keynesians_and_consumerism","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2010\/12\/02\/keynesians_and_consumerism\/","title":{"rendered":"Keynesians and Consumerism"},"content":{"rendered":"
\n

RUSH: Craig in Vero Beach, Florida, former home of the Dodgers at spring training. Hello, sir.<\/p>\n

CALLER: Professor Limbaugh. It\u2019s an honor to speak with you, sir.<\/p>\n

RUSH: Thank you very much, Craig.<\/p>\n

CALLER: And I am a student of the Limbaugh Institute and have learned much. This has been an outstanding program today, Rush. I\u2019ve enjoyed it. You\u2019ve really brought to light a tremendous amount. My point today is what you were talking about earlier, and that is the reason for extending the so-called unemployment so-called benefits and what Pelosi has to say about this — and you described the Keynesian approach absolutely perfectly. This is all about consumerism, and I need to give you thanks and applaud you for it because consumerism is what is holding the Obama government together. And I think that your explanation was excellent. I would like you to expand upon it just a little bit more in the area of, as you just related, these so-called middle-class tax cuts. What do the Keynesians want that money to go towards? You named it, Rush: Consumerism. If consumerism falls apart, there goes the recovery. There goes Obama.<\/p>\n

RUSH: Right. But what is the flaw in the Keynesian connection to consumerism?<\/p>\n

CALLER: Well, it doesn\u2019t work. There isn\u2019t any recovery. <\/p>\n

RUSH: Yeah, but why doesn\u2019t at work? Why doesn\u2019t Keynesian-sponsored consumerism work?<\/p>\n

CALLER: Cause it\u2019s based on the false assumption that more money in circulation will lead to more spending — and, of course, it doesn\u2019t. It leads to the word you were talking about earlier: Inflation. Not deflation, inflation.<\/p>\n

RUSH: Right on, but if the money that ends up in the hands of consumers is essentially not theirs and not earned by them — and, frankly, really never reaches their hands — how much consuming can they do? Because the money generated by Keynesian spending is of course printing or borrowing. It\u2019s not produced by genuine economic activity. <\/p>\n

CALLER: Yeah, right.<\/p>\n

RUSH: The flaw here is the Keynesians believe you can print up a bunch of money, spend a bunch of money, throw it out there and put it into various strategic points and it\u2019s gonna somehow end up in the hands of consumers. This is their silly thinking on unemployment checks. <\/p>\n

CALLER: Correct.<\/p>\n

RUSH: Their unemployment checks, they think, are gonna lead to all kinds of consumerism, as opposed to tax cuts, which won\u2019t lead to any consumerism — and they\u2019ve got it ass-backwards, because the tax cuts are what leads to consumerism because that\u2019s people\u2019s own money! Unemployment checks, by definition, are not enough for my consumin\u2019. All you can do is basically sustain yourself.<\/p>\n

CALLER: Exactly. And that\u2019s what the Obama administration and their Marxism is: To sustain, not grow. They don\u2019t want people to have real jobs and make real money because then they would no longer be dependent on the government, and you have described it perfectly. I think you need to say it every day over and over and over. The only thing that this younger generation understands and lives for each day is to consume, and it is a false security.<\/p>\n

RUSH: One way I like to explain this — and I appreciate the kind words, Craig. I really do. One way I like to explain this in light of what we were just talking about — consumers, people consuming — is the Keynesian theory is you throw a bunch of money out there and put it strategic points of the economy, whatever they think they are, and it will end up in the hands of consumers. They\u2019ll start spending and ergo you\u2019ve got economic activity. They forget that consumerism is based on real things. People don\u2019t just spend for the hell of it. Well, some women do, but for the most part… (laughing) I\u2019m sorry, it\u2019s stereotypically humor which I just happen to love. I know I deserve to be slapped. It\u2019s nothing but stereotypically humor. It\u2019s not tied to anything other than my sense of humor.<\/p>\n

It\u2019s like I love mother-in-law jokes, so don\u2019t get offended. It\u2019s like… (laughing) ‘Good news, bad news. Your new Cadillac is going over the cliff. That\u2019s the bad news. The good news is your mother-in-law is in it attached with a seat belt.\u2019 I love these old jokes. These jokes are back from the 1960s and so forth. The Lockhorns was a great, stereotypically humor comic strip. Consumerism has to be based on genuine need, not just spending idly which really doesn\u2019t happen a whole lot (except if it\u2019s by the rich). Now, in the case of unemployment compensation, let\u2019s say it\u2019s 300 bucks a week and $1200 a month. For most people, you\u2019re not gonna be out doing a whole lot of luxury shopping on that kind of money. You\u2019re not gonna buy a car.<\/p>\n

But what are you gonna do? You\u2019re gonna make sure the utility bill is paid…maybe. (chuckles) You may skip them until you figure you have to pay, but you\u2019re gonna pay your cell phone bill. You\u2019re going to pay your cable bill. These are the things that keep life normal for you. When is the last time you ever heard anybody say that the economy really came around and started growing because utility bills were paid on time? It doesn\u2019t happen, and that\u2019s the kind of spending that the unemployment compensation permits. It\u2019s sustainment-type spending. It\u2019s not expansion spending; it\u2019s not growth spending, and that is the kind of spending they do want. I was talking to my good friend Mark Levin the other day and he had a great, great point. <\/p>\n

It\u2019s one of these things I wish I\u2019d thought of myself about this business that people over $250,000 shouldn\u2019t get a tax cut because they don\u2019t need it. Levin was talking to some liberal on his show, and he asked the liberal, ‘Why should anybody even make over $250,000? If they don\u2019t need it, if they don\u2019t need a tax cut when they make that much, why don\u2019t you guys just say, ‘Nobody should have more than $250,000, period\u2019? Not that people over that shouldn\u2019t get a tax cut, just that nobody can have more than $250,000.\u2019 The liberal said that was not a bad idea. ‘Okay, well, then why not $150,000?\u2019 It makes the point and throws it back in their face so well, this whole tax cut argument. <\/p>\n

‘We\u2019re gonna make sure there are tax cuts except for those at $250,000 or more \u2019cause they don\u2019t need it.\u2019 Fine. If they don\u2019t need it, they don\u2019t need any more than $250,000 period — and what if we just had a blanket limit: No American should have more than $250,000! Not just salary, you couldn\u2019t have your car. Everything that you have could not add up to more than $250,000. Your house, nothing could add up to $250,000, because above that you don\u2019t ‘need\u2019 it. You don\u2019t need anything more than $250,000. So every bit of your salary, your assets, your cars, your home, your jewelry, your watches, whatever, your underwear, clothes, nothing can be more than that. Once it totals 250,000, that\u2019s it and you don\u2019t get any more because you don\u2019t need any more. <\/p>\n

That\u2019s the kind of stuff I just love to ask these New Castrati guys, you know, \u2019cause liberalism cannot be supported intellectually — and when you hit \u2019em with any kind of intellectual argument based on what they think and say, they crumble and they crumple like a cheap suit. It is just fascinating. When I stop and actually think about this, I can\u2019t believe that there still are liberals with credibility. It is such BS. All of it is such a crock. And yet it does. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Craig in Vero Beach, Florida, former home of the Dodgers at spring training. Hello, sir. CALLER: Professor Limbaugh. It\u2019s an honor to speak with you, sir. RUSH: Thank you very much, Craig. CALLER: And I am a student of the Limbaugh Institute and have learned much. This has been an outstanding program today, Rush. 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