Category Archives: Defecit

Hoover statement from the comment section

Just because he got filthy rich inventing the vacuum cleaner doesn’t mean he knew macro. Yes, they were on the gold standard, but the forces at work took us off it about a year and a half later. Statement by … Continue reading

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social security solvency

>    >   (email exchange) >    >   Joe wrote: >    >   The argument Stephanie used in the youtube clip is summarized by her here. >    >   Here’s the quote: “Funding Social Security is always and everywhere a political choice. The strongest evidence of this comes … Continue reading

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Link to Galbraith’s latest- well worth reading!

link: Galbraith’s latest!

Posted in Defecit, Government Spending |

Roubini again

[Skip to the end] Just in case you thought he knew how the monetary system works. The nonsense about the penalty for deficit spending being anything but possible inflation makes him part of the problem: “There are risks associated with … Continue reading

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US Consumption and Tax Policy

[Skip to the end] Some interesting bits. Supports my contention that we are seeing real wealth flowing upward and will continue to do so. Note the distribution of consumption, which has been moving north as well. Proposed tax policy won’t … Continue reading

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Debt problem and policy response

[Skip to the end] The ‘problem’ is lack of income to service the debt, not the debt per se. Take a look at the personal income chart, particularly the interest income component. Restoring the ability to pay restores the quality … Continue reading

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