Liberals are half-assed Keynesian hypocrites

Oh, and yes, I'm thinking of you, Paul Krugman.

I'll be blunt.

I have a MBA and a Ph.D. in common sense which makes me at least as qualified as Obama to opine on economic matters.

Simply stated, here's my bone to pick with liberals:

Democrats, particularly liberals like Obama, do not get (or simply choose to ignore) that during boom times, Keynes essentially argued for the inverse of his prescription for recessions. Sure, they pay lip service to paying down the deficit but we all know it's a farce.  The gist of Keynes' argument for countercyclical fiscal policy is that if borrowing and spending are required to provide fiscal stimulus during busts to get the economy moving, then surely saving, paying down debt and reining in government spending would be required during boom times to keep the economy from overheating and imploding -- not to mention paying down all that debt the goverment accumulated! 

To use a real life example, let's say you suddenly lose your job and decide to turn lemons into lemonade by furthering your education.  A true Keynesian would be willing to borrow (student loans) to invest in an education today that will pay dividends for decades (a sound investment with a solid ROI).  A true Keynesian would then happily pay off those student loans and build savings as soon as they got a good paying job.  In other words, use your personal "boom time" to do the inverse of the borrowing and investing you did during your personal "bust".  Then when the next "bust" in your life arrives, you'll be better prepared because you've paid off your debts and built a rainy day fund to weather the storm.  This is how government ought to manage its finances -- it's just common sense.  Making sound, smart investments (not Porkulus!) during lean times and paying down debt and saving during boom times.  But as we all know, this is very rarely this case!

Our government has paid down its debt on very rare occasions in the post Eisenhower era.  The best example: BJ Clinton and a GOP Congress beholden to a "Contract With America".  That's about it.  You want to know why Rick Santelli is screaming mad and there's a Tea Party movement brewing?  That's why.  It's not that people don't think the economy needs government action, it's that people don't trust the government to pay down its bills once the current economic crisis is over.

We the people don't really trust the Democrats or the Republicans to pay down the debt.  We are in a similar mood to 1992, when Americans were so disgusted with both parties that many turned to a funny sounding man from Texas with his charts based on little more than common sense and folksy logic.  Simply put, people were fed up with half-assed hypocritical Keynesians on the left and supply side voodoo economists on the right who say deficits don't matter.  And yes, I've already said plenty about Dubya era hypocrisy on deficits and debt.

So when Krugman says crap like this I can only laugh:

When I was young and naïve, I believed that important people took positions based on careful consideration of the options. Now I know better. Much of what Serious People believe rests on prejudices, not analysis. And these prejudices are subject to fads and fashions.

Yes, Mr. Nobel Prize Winner, anyone who dares to disagree with you must be doing so because of their prejudices.  Only wonkish Keynesians like yourself are capable of serious analysis.  And during the next boom time, I'm sure you'll be hammering your liberal friends for not saving and paying down debt like good Keynesians should.  NOT!  Because we all know that liberals are only Keynesians during recessions and almost never during boom times.