America Cannot Go the Way of Greece [View article]
Your argument is the classic inflation leading to hyperinflation argument. Where is this highly destructive inflation or hyperinflation? I am the last person on the planet to argue that the US economy is booming, but the inflationists have been so wrong in their analysis in recent years that it's amazing that so many of the readers here are still drooling over their inaccurate calls...
America Cannot Go the Way of Greece [View article]
You're using all the standard fear mongering tactics.
You prove that you don't even understand the MMT position when you use the term "unfunded liabilities".
And for the record, I am a registered Republican and the founder of MMT, Warren Mosler, is a libertarian, so your attempts to turn this into a political debate fall flat on its face before it gets started.
Again, for those who are interested in turning this into a political debate i suggest you not read me. For those who are interested in the absolute truth I suggest you read the following with an open mind.
America Cannot Go the Way of Greece [View article]
The same "fatuous" argument has been made about Japan for 20 straight years and they don't have the luxury of reserve currency status.
David, with the greatest respect, you simply do not understand my position. You have not grasped the idea of a currency issuer vs a currency user. Again, see here. Pour over it for hours....You won't regret it. pragcap.com/resources/...
The Misery Index Approaches New Highs [View article]
So what is the answer then? A return to the gold standard? Limits on issuance per annum?
M2 has been pretty consistent at about 6% during the crisis so I think your fears of excess money are unfounded....All that money printing by the Fed has ended up on bank balance sheets as excess reserves. It hasn't actually found its way into the real economy....
The deficit spending has been a debacle and poorly allocated. I'd be interested in your solutions if you have any.
The Misery Index Approaches New Highs [View article]
The gov techno magic school. That's a good one. Actually, I am just accepting the realities of how our monetary system works. I am not in favor of just printing money to fill in holes. But I recognize that the monopoly of supplier must actually supply us with the currency that they require us to transact in.
I've been a proponent of them doing that through lower taxes. I would encourage you to read this and try to really be open minded about it. My guess is that we're not as far apart in our thinking as you might believe:
I very much agree that cost push inflation via oil shortages could damage the US economy. But it wont bankrupt us. It will just cause crushing inflation/recession that reallocates spending.
I don't think you fully understand my thinking. You might want to review this before shrugging me off as crazy while defending a man who has proven time and time again that he knows very little.
The Long Trek Back to Sustainable Debt Levels [View article]
Dibber,
100% right. This is why I've said that QE can be marginally deflationary. We are swapping out 2% paper with 0.25% paper and therefore reducing the pvt sector's net interest income.
America Cannot Go the Way of Greece [View article]
America Cannot Go the Way of Greece [View article]
America Cannot Go the Way of Greece [View article]
America Cannot Go the Way of Greece [View article]
You prove that you don't even understand the MMT position when you use the term "unfunded liabilities".
And for the record, I am a registered Republican and the founder of MMT, Warren Mosler, is a libertarian, so your attempts to turn this into a political debate fall flat on its face before it gets started.
Again, for those who are interested in turning this into a political debate i suggest you not read me. For those who are interested in the absolute truth I suggest you read the following with an open mind.
pragcap.com/resources/...
America Cannot Go the Way of Greece [View article]
America Cannot Go the Way of Greece [View article]
I would suggest you start here:
pragcap.com/resources/...
Feel free to email me with questions.
Best. CR
America Cannot Go the Way of Greece [View article]
America Cannot Go the Way of Greece [View article]
David, with the greatest respect, you simply do not understand my position. You have not grasped the idea of a currency issuer vs a currency user. Again, see here. Pour over it for hours....You won't regret it. pragcap.com/resources/...
America Cannot Go the Way of Greece [View article]
The Misery Index Approaches New Highs [View article]
M2 has been pretty consistent at about 6% during the crisis so I think your fears of excess money are unfounded....All that money printing by the Fed has ended up on bank balance sheets as excess reserves. It hasn't actually found its way into the real economy....
The deficit spending has been a debacle and poorly allocated. I'd be interested in your solutions if you have any.
The Misery Index Approaches New Highs [View article]
I've been a proponent of them doing that through lower taxes. I would encourage you to read this and try to really be open minded about it. My guess is that we're not as far apart in our thinking as you might believe:
pragcap.com/resources/...
Bernanke Still Doesn't Get It [View article]
Bernanke Still Doesn't Get It [View article]
papers.ssrn.com/sol3/p...
And if you don't want your USD's I can forward you my address so you can send them to me. :-)
Bernanke Still Doesn't Get It [View article]
I don't think you fully understand my thinking. You might want to review this before shrugging me off as crazy while defending a man who has proven time and time again that he knows very little.
pragcap.com/resources/...
The Long Trek Back to Sustainable Debt Levels [View article]
100% right. This is why I've said that QE can be marginally deflationary. We are swapping out 2% paper with 0.25% paper and therefore reducing the pvt sector's net interest income.