Funny Argument with a Keynesian

Hey guys,

One of my coworkers told me he was taking economics in college, and I love playing around with Keynesians on basic economic questions because we all know they’re clueless. I asked some questions on inflation, deflation, etc., and obviously, he has been brainwashed, unfortunately.

The funny part is where I was trying to explain to him how interest rates should be determined by the free market and not a central bank, and he told me that’s not a good thing because if it wasn’t for central banks controlling interest rates, it would be “at 0%” for banks to attract customers for their loans because of competition for lower rates. I proceeded to tell him we’ve had practically a 0% Fed funds rate (looking at the average) for the last 15 years (before 2022), and that was FROM A CENTRAL BANK and NOT the free market, and he was baffled.

I then asked him if he knew any economic history/bubbles like the Great Depression, the dot-com bubble, the 2008 crash, etc., and he told me he doesn’t get taught that in school and he doesn’t care about economic history.

Just wanted to point out the irony of his 0% interest rate argument and how he’s getting brainwashed with Keynesian nonsense.

Hope you guys had a good laugh too lol.