Skip to main content

View Diary: Fiscal Sustainability Teach-In & The Deficit: Nine Myths We Can’t Afford (33 comments)

Comment Preferences

    •  bullshit (4+ / 0-)
      Recommended by:
      horowitz, debedb, VClib, erush1345

      these are not myths.  There is difference of opinion on just how much weight goes into each claim, but to call them myths? nonsense.

      Please, just cause you can quote a person on their opnion on the assertion doesnt mean it is debunked in the slightest.

      Take a look at Greece, Portugal, Spain, etc etc.  Economies are all a house of cards. The chinese, japanese, and european stop showing up for our bond sales, watch what happens.  The Fed can only 3rd party backdoor buy for so long.

      (regarding the bank mess) They want to cure the patient but not deal with the disease.

      by dark daze on Fri Apr 30, 2010 at 01:42:37 PM PDT

      [ Parent ]

      •  assertions.... (2+ / 0-)
        Recommended by:
        jakebob, Egalitare

        Greece, Portugal and Spain are part of the EMU. completely different story. you may want to read bill mitchell's post today: The dysfunctional logic of the Eurozone and its downward spiral

        p.s. i have a lot more than assertions from the people quoted (see links to audio and references there). can you give me more than your assertions to refute them?

        •  bullshit (2+ / 0-)
          Recommended by:
          VClib, erush1345

          you are basically dragging up to ol dogma "deficits dont matter".  They in fact do matter.  The debate is just how much do they matter.

          (regarding the bank mess) They want to cure the patient but not deal with the disease.

          by dark daze on Fri Apr 30, 2010 at 02:36:20 PM PDT

          [ Parent ]

          •  nope (0+ / 0-)

            deficits do matter.

            and the debate i'm trying to have is NOT "how much they matter," but rather "how do they matter?"

            •  how about you debate and study (1+ / 0-)
              Recommended by:
              erush1345

              fiat economies, name one in history that hasn't failed.  

              (regarding the bank mess) They want to cure the patient but not deal with the disease.

              by dark daze on Fri Apr 30, 2010 at 02:40:58 PM PDT

              [ Parent ]

            •  the US has basically gotten (3+ / 0-)
              Recommended by:
              PatriciaVa, VClib, jakebob

              The US and greenback have basically gotten a 50 year free ride because we have had the defacto reserve currency of the world.  That is all gonna change this century and with it, our printing presses do get to go full bore anymore without dire results. We are a failing empire and you seem to act as if its just some numbers game that doesnt have real world ramifications.

              (regarding the bank mess) They want to cure the patient but not deal with the disease.

              by dark daze on Fri Apr 30, 2010 at 02:43:34 PM PDT

              [ Parent ]

        •  Bill Mitchell is wrong on this too (1+ / 0-)
          Recommended by:
          jakebob

          We can't act like we have an airtight, rational, logical system.

          Krugman is missing a central fact: the ECB is under tight monetary policy. It could easily drop the level of the euro and inflate but Germany is still tied to tight monetary policy and grandiose visions of being a reserve currency.

          The ECB could easily even buy those Greek bonds yielding 26% (who the fuck sold those?), backstop Greece, and then make a huge killing.

          This is like taking candy for a baby. The opportunities are out there. not to mention Greece itself has lots of bullets left which haven't been fired.

          I wonder what Krugman is going to say when it turns around?

          There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

          by upstate NY on Fri Apr 30, 2010 at 04:06:02 PM PDT

          [ Parent ]

      •  Thank you for the truth in labeling (0+ / 0-)

        your comments are indeed bullshit, dark daze.  They go against Keynesianism.

Subscribe or Donate to support Daily Kos.

  • Recommended (137)
  • Community (67)
  • Elections (26)
  • Environment (25)
  • Culture (24)
  • Media (23)
  • Science (22)
  • Civil Rights (22)
  • Law (22)
  • Trans-Pacific Partnership (21)
  • Josh Duggar (20)
  • Labor (19)
  • Economy (19)
  • Ireland (17)
  • Rescued (17)
  • Memorial Day (17)
  • Marriage Equality (17)
  • Bernie Sanders (16)
  • Republicans (16)
  • Education (16)
  • Click here for the mobile view of the site