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View Diary: Math is Hard: Or why everything we know about debt and deficits is wrong (84 comments)

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  •  The capacity linkage to inflation is gone (1+ / 0-)
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    we live in a global economy.  Capacity is no longer limited to what the US can produce.  There is no unused capacity in the US for making TVs, but TV prices are falling.  

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Mon Nov 19, 2012 at 09:07:15 AM PST

    [ Parent ]

    •  There are 3,000,000 construction workers idle (1+ / 0-)
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      There is a minimum $2.2 T infrastructure deficit.
      Were there ever 3,000,000 tv makers? Was there ever a TV deficit? We can toss around anecdotal evidence all day long. I've looked at yours and found it unconvincing. I've looked at MMT and found it internally consistent and intellectually compelling. I suggest an open-minded reading of MMT before coming to any conclusions about what it says and (importantly) what it does not say.

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