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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Seeking Alpha: Looming Financial Catastrophe: A Real Inconvenient Truth

Posted by Sada Mosler on August 27th, 2008


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jlbIII commented:

I know I, for one, hate having to continually get int that time machine to ship all those cars and computers back to 1945 in order to support my reckless grandparents who wracked up such huge debts to pay for WWII. It’s only somewhat helped my the regular arrival of my grandchildren with the aircars and Mr. Fusions… Oh, wait – that DOESN’T HAPPEN!

Current production supports current consumption. Notional financial values of debt are utterly irrelevant. You people, while well-meaning, are utterly clueless. It is the equivilant of worrying about a bowling alley running out of points to award.

http://www.moslereconomics.com/mandatory-readings/soft-currency-economics/


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3 Responses to “Seeking Alpha: Looming Financial Catastrophe: A Real Inconvenient Truth”

  1. Jim Baird Says:

    Just making an effort to inject some sense. Bubt did you notice that no one even responded to my comment, and just went back to talking about how good ‘ol Ron Paul would fix everything? That’s one of the problems with dealing with different paradigms – people often can’t even hear what you’re saying, let alone respond to it.

    It’s like being back in the 18th century, with a bunch of doctors arguing about the best technique for bloodletting: fast or slow, arms or legs, etc. If you come in to that discussion and say that the bloodletting is actually what’s killing the patient, they pause, give you a patronizing smile, and then go right back to their argument…

    Reply

  2. Scott Fullwiler Says:

    Well said, Jim.

    It’s amazing how the gold standard gets promoted as a “solution” to this so often, since moving to a gold standard would make it far more likely that all the doom and gloom scenarios actually come true. As you said, so “utterly clueless.”

    Reply

  3. WARREN MOSLER Says:

    Understood.

    Thanks for the assist.

    Keep fighting the good fight!

    By the way, the reason countries went off the gold standard was because of the economic collapses with double digit unemployment rates and troubling social unrest.

    It wasn’t because they were working so well. :)

    Reply

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