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Learning not to trust the All-In podcast

(passingtime.substack.com)
349 points paulpauper | 1 comments | 06 Nov 24 17:14 UTC | HN request time: 0s | source
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kemiller2002 ◴[06 Nov 24 18:12 UTC] No.42066611[source]▶
Please don't beat me up too much on this.

Even if their faulty assumption was true, wouldn't that just be a Keynesian approach to solving a recession? I though Keynes approach was that the government should step in a spend more to prevent a recession, essentially equalling what is lost in the free market.

Fully admit could be totally wrong on this. Just curious.

replies(3): >>42066924 #>>42068007 #>>42068030 #
1. 27153 ◴[06 Nov 24 18:28 UTC] No.42066924[source]▶
Government spending is how a Keynesian combats a recession. For perspective, though, look at this chart of government spending as a % of GDP. It has never gotten even close to 85% of GDP (https://fred.stlouisfed.org/graph/?g=8fX). Chamath claimed it was 85% of GDP growth, which is a different calculation, but looking at [this data](https://www.bea.gov/sites/default/files/2024-10/gdp3q24-adv....) from the past couple of years you can see that the claim is still incorrect.