President Obama entering the fray
Posted by WARREN MOSLER on November 3rd, 2011
More of the blind leading the blind. The one thing they all agree on, at great expense to global well being, is the budget deficits are all too large and the need for shared sacrifice and all that.
No chance for anything constructive to come out of any of this.
And these masters of their money machines don’t even know how to inflate, as they all desperately try to inflate with their versions of quantitative easing, which, functionally, is just another demand draining tax.
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November 3rd, 2011 at 1:02 pm
Curious timing. Much like Emperor Hirohito, President Obama doesn’t usually speak up until its time to announce an unconditional surrender.
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Peter Principle Reply:
November 6th, 2011 at 1:34 pm
@beowulfMuch like Emperor Hirohito, President Obama doesn’t usually speak up until its time to announce an unconditional surrender.
“The economic situation, having developed not necessarily to America’s advantage . . >”
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beowulf Reply:
November 6th, 2011 at 8:40 pm
@Peter Principle,
LOL, hilarious.
I wonder if Obama owns a morning coat.
http://cdn2.mixrmedia.com/wp-uploads/rekuru/blog/2009/11/macarthur_hirohito2.jpg
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November 3rd, 2011 at 6:00 pm
If the deficits are “too large”, are the surpluses, “just right?”
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November 3rd, 2011 at 8:31 pm
“And these masters of their money machines don’t even know how to inflate, as they all desperately try to inflate with their versions of quantitative easing, which, functionally, is just another demand draining tax.”
And with the “NGDP’ers” now gaining traction, we’ll be subjected to experimentation with the same old nostrums in a different wrapper, on a variable (GDP) that is revised up to two years after the fact (!), by practitioners who completely overlook the concept of net financial assets.
If Krugman is right about it, NGDP provides better political cover for a higher inflation targeting regime. But if they still think that the road to inflation is swapping one govt liability for another, nothing will have changed. Nothing. And now even Christina Romer is pushing for it. What a mess.
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vincent Reply:
November 5th, 2011 at 2:36 am
@Art,
The “wisdom” of Madeline Albright:
“I think the greatest challenge [facing the United States] is our economy and our deficit, because I think it is a national security issue.”
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WARREN MOSLER Reply:
November 6th, 2011 at 2:44 pm
makes her a national security issue as well
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November 6th, 2011 at 1:36 pm
The “wisdom” of Madeline Albright:
Jeez, talk about words that don’t belong in the same sentence — even with scare quotes around one of them.
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