A little Econo-porn for Bam

#2
#2
interests rates on greece debt were under 5% not too long ago (what 2 months?) as well. and i love the argument that since the market isn't rational there is no reason to change anything. apparently it's better to run up so big of a deficit that any idiot can figure out we are up the creek without a paddle.
 
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#3
#3
Ummm, his dad was a famous economist - he must be right.

The comments under the article are interesting.

I still would like to hear him tell why we should pay income taxes at all though and how those tax rates should be determined.
 
#4
#4
Since the 1790s, how often has the federal government not run a deficit? Six short periods, all leading to recession.
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Interesting.

Obviously, there are limits to prolonged, systemic deficit spending. But I do agree that the threat posed by deficit spending in severe recessions, such as we have been experiencing, has been overhyped.
 
#5
#5
it should be interesting to see what happens when we start seeing withdrawls from bond funds and the bubble ends. that by itself might cause another recession. currently these bond funds will buy any supply available. if that dries up or even slows down look out below.
 
#6
#6
Velo Vol said:
Interesting.

Obviously, there are limits to prolonged, systemic deficit spending. But I do agree that the threat posed by deficit spending in severe recessions, such as we have been experiencing, has been overhyped.
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we never experienced anything close to this level of deficit spending. the euros went by this theory for decades that you will never have to pay the piper, but that is all coming home to roost.
 
#7
#7
Velo Vol said:
Interesting.

Obviously, there are limits to prolonged, systemic deficit spending. But I do agree that the threat posed by deficit spending in severe recessions, such as we have been experiencing, has been overhyped.
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If you read the comments below the article there is considerable debate about the quote you posted both in:

accuracy and attribution of cause towards subsequent recessions.

His analysis also completely ignores debt servicing which presumably requires increasing deficit spending in and of itself.
 
#8
#8
I always admired his father.

Good read - even though the real economists write for the NY Times.
 
#9
#9
is it true that without the deficit we would have no money. Debt=money right? I had a friend try to explain this government level of economics to me once and all i could do was laugh. I understand inflation and making too much debt/money, but a large debt can/is a good thing. right?
 
#10
#10
bam15 said:
I always admired his father.

Good read - even though the real economists write for the NY Times.
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I figured you'd like it.

Can you tell me why we pay taxes and how tax rates should be determined if this take on econ is correct?
 
#13
#13
paul1454 said:
He was a good economist a few years back. Over the years, however, he has become so partisan that he has lost a large amount of academic credibility.
Posted via VolNation Mobile
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yes. He's using his Nobel Prize to support a hardcore lefty point of view. My guess is that it makes him more money.
 
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