Debt Rattle August 7 2017
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Posts
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Fred Stein Man on bumper, New York 1949 • EU Membership For Poland Is Like A Teaser Rate On A Bad Loan – Steve Keen (RT) • How China’s Billion
[See the full post at: Debt Rattle August 7 2017]“…if you spend less money – surprise, surprise – your economy shrinks…”
Omg Keen, the government is not the economy, the government is not the people. Okay, to make this short, government spending is good, right? He’s argued exuberantly that deficts are good, and the only evil in government is to reduce deficits and live within your means. So we should take him at his word: if deficts have no downside, clearly we should print all the money the country needs and hand it out. I mean, why stop at $20 Trillion? Why not $200 Trillion? Or $200,000 Trillion? Giga Trillion? Peta Trillion? I want a Mercedes, an underwater Atlantis resort, and those $1,000,000 condos for every homeless person aren’t going to build themselves, you know.
Oh wait — you mean there ARE limits? Every nation that ever printed money without real productivity to back it up had inflation, savage income disparity, and social unrest due to how inflation helps the richest and devastates the poorest even to total collapse and wars killing millions? Gee, who would have heard of that before? Maybe an economist or economic history professor?
Keen, for heaven’s sake, try not to kill every one in the nations you’re advising — at least leave a couple alive to tell the tale.
Even if apparently, after 2,000 years and a 100% failure rate, economists STILL think there’s a magic goblin money tree made of free lunches where no one ever has to work again.
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