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Keynesian economics is by no means new, and Reagan's so called "voodoo economics" is just a derivation of Keynesianism.
I agree, it can't possibly be healthy, but I've been called dumb so many times by people with advanced degrees in economics that I don't care to list them. Supposedly, they know better, and the whole world uses this system. This is one case where I hope I don't get to say "I told you so".
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