Your HuffPost Blog Post – The Economics of Eurozone Trade Differentials and Fiscal Transfers
Posted by WARREN MOSLER on July 16th, 2012
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July 16th, 2012 at 3:29 pm
Excellent post, Warren.
Amancio Ortega is Europe’s richest person. I wonder if Europe’s unemployment rate would fall if he gave one million dollars to every European adult living in poverty.
I have also wondered the same about Warren Buffett and America’s poor.
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chewitup Reply:
July 16th, 2012 at 6:57 pm
@Tyler,
Not sure what this post has to do with philanthropy. Last I heard, Buffett has given HUGE amounts of money away to charity. Pretty sure Ortega is also very generous.
The key is to get Ortega to convince the Euro nations to allow a fiscal union.
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WARREN MOSLER Reply:
July 16th, 2012 at 10:42 pm
thought i read on an after tax basis it was about a wash?
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Tyler Healey Reply:
July 17th, 2012 at 6:16 am
@chewitup,
If a fiscal union will get money in the pockets of poor people, then I’m all for it. As I see it, the European and American economies will not truly be recovered until poverty is eliminated.
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roger erickson Reply:
July 17th, 2012 at 8:57 am
@Tyler Healey,
All depends on the terms.
The Soviet Union once had a fiscal union. The difference between theory & operations is greater in practice than in theory.
July 16th, 2012 at 5:54 pm
Warren Buffet?
GW Bush gave Hank Paulson a blank $800 billion check from your future tax dollars to bail out a few thousand banker criminals.
How far would that have gone to help real Americans?
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WARREN MOSLER Reply:
July 16th, 2012 at 10:41 pm
and, functionally, as previously discussed, it was in fact nothing more than regulatory forbearance, and not a ‘payment’
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Unforgiven Reply:
July 17th, 2012 at 1:04 am
@Stevie,
Our “tax dollars” don’t “pay” for anything. See 7DIF on the subject:
http://moslereconomics.com/2009/12/10/7-deadly-innocent-frauds/
The first page is blank. Scroll down to read the good stuff.
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