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Keynesianism was really bastardized by Paul Samuelson at MIT after the War II. I don't blame Keynes for that because he was not an idyllot. He believed in doing whatever worked. In 1945, the US debt to GDP ratio was 120% all-time high. The number doesn't mean anything. What is your payment ability? So I say, if I owe $50,000 on a MasterCard and I'm making $20,000 a year, I'm probably going broke. If I owe $ 50,000 and I're making half a million a year,I can write a check.
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