Wednesday, July 1, 2015

Animal Spirits: Two Days Later.


Two days ago, "keyneses" all over the world were looking at their computer monitors in consternation: there wee red numbers everywhere (see here).

That's how things look like today (10:35 AM Thursday, 2 July 2015, AEST GMT+10):
(Right-click to open another tab with a larger image. source)

(Right-click to open another tab with a larger image. source)

Since then, some "keyneses" lost plenty money, while others won some; the sun set and rose twice; some people were born during these last days, others, died. But -- and maybe it's just me -- I've seen nothing really remarkable happening: no slump, no boom.

Okay, maybe it's too soon to claim victory. Keynes did not establish any kind of timeframe for the awesome power of Animal Spirits to manifest itself  (funny that, wouldn't you say?), so perhaps we should give it some more time to produce its magic. Let's wait. Shock and awe are surely on their way.

Like a VSP-K (Very Serious Post Keynesian) professor likes to say: "eventually" something is bound to happen.

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