Neoclassical theory relies on a "multiplier effect," Bernanke's "quantitative easing." Giving to banks is said to be 10 days more "productive" than giving to debtors. Giving to debtors is dynamic thinking. Ponzi thinking is in the saddle again.

Neoclassical theory fails to account for credit money created one month before base money. In this model, loans create deposits, not the other way around.

80% of TARP money went into speculation on the stock markets instead of reviving the economy.

to watch and hear Steven Keen, professor of economics at the University of Western Sydney, speaking on November 16, 2009, click on

http://pragcap.com/must-see-steve-keen- ... r-all-this

and Wikipedia on Hyman Minsky:

http://en.wikipedia.org/wiki/Hyman_Minsky

Steven Keen is the author of "Debunking Economics."

to hear his December 2009 interview on "Predictions for 2010." click on

http://pragcap.com/steve-keens-predictions-for-2010