Deficit reduction should come at a time when revenues are increasing…
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it could not possibly be overstated that austerity is a bad idea in bad times. its like all of a sudden the world forgot history and all the lessons it has taught.
MMT is pure unadulterated bunk, Cronkers. It’s pure horse shit mixed in with dog turd. In fact it’s basically an adoption of South American economics of the 60’s to 80’s that saw 30,000% inflation rates in that shit hole economic region.
Take a look at the period of demobilization 1946 to 1950.
Spending was either kept constant on came down in those years. Then take a look at GDP which still went up.
Under MMT it should have tanked but it didn’t.
http://www.scribd.com/doc/5467519/US-National-Debt-19292008
j, I can’t agree.
they are the only ecnomic school I am aware of that predicted very low bond yields and recommended long treasury positions.
they are the only economic school I am aware of with a cogent plan to stabilize things and fuel growth.
they alone seem to understand things like sectoral balances.
I know of no other school of economics with a plan for price stability…
What flaw can you find in their teachings?