Not even a kludge...that would imply that while substandard, it works to some degree.Jesús Malverde wrote:The idea is a kludge...
Say it...SAY IT!....Keynesians.If economic planners understood first principles...
Really? Then what the fuk is this...ben ttech wrote:...i never said congress lived up to the charging decree...
Sure seems like a definitive statement that indicates that is exactly what you said.ben ttech wrote:congress is held to the establishment of a STABLE means of exchange, period
Maybe because QE wasn't used in this country until 2009. And it's use is just making things worse.i read there isnt an economist expert being quoted who was taught the history or economics
I feel like I'm living in a country of morons. We like to live in our imperialistic world...but we don't want to pay for it. Some years ago I researched, wrote, and posted a paper titled 'Paying for...the cost of war', in which I looked at the history of military spending and tax rates, and their effect on national debt. We quit paying for our military actions in 1981, and started financing it with debt. So how has that worked out? Well, on September 10, 2001 Sec. of Defense Donald Rumsfeld announced in a press conference that the DoD had received $2.3 trillion in funds that it could not account for. At that time national debt was around $5.8 trillion...which means around $3.5 trillion was from military costs that could be accounted for, and from all other government operations. Recently the DoD announced that it has been funded $23 trillion that it can not account for. At which time national debt was around $27 trillion...which means around $4 trillion is from military costs that could be accounted for, and from all other government operations. So in the last 20 years, normal government operations have increased national debt by just $.5 trillion, while the other $20.7 trillion of the increase is money the DoD "lost".
Now for the lesson all economists should know, which these MMT nutjobs seem not to have learned, and the Keynesians refuse to acknowledge....Weimar. They've already gone down this road, with disastrous results. It is almost the exact same situation. Germary started with paying for it's war efforts with money...pretty much like we did until 1981. But they were not satisfied with that limitation, so they started financing war efforts with debt...just like we've done for the last 40 years. And when that wasn't enough, they fired up the printing presses...just like these MMT fools want to do now.