RE: What job experience would you like to see in a Presidential candidate?
February 14, 2019 at 8:26 am
(February 14, 2019 at 3:58 am)Nomad Wrote:(February 13, 2019 at 8:38 pm)Yonadav Wrote: Your post reads like you were scanning an article about Modern Monetary Theory while smoking pot. I loved that bit about the 'biggest problem with modern macroeconomics is that it assumes that state debt is like household debt'. No, that's not the biggest problem. It's just a common misconception. If there is a 'biggest problem' with our current theory of economics, it is probably its dependence on continuous growth. One of the biggest problems with massive state debt is that during periods of low growth, the massive debt becomes the primary source of income for the very wealthy. So in a period of slow growth with high state debt, workers must be taxed heavily to pay interest on the debt to the wealthy. You end up with something like the French Second Estate or the British Aristocracy. So growth is the only thing standing between us and feudalism.
I am not saying that deficit spending is bad. I'm just saying that it is pretty silly to have such a casual attitude toward it.
Lad, I don't need to be lectured at by an illiterate.
I didn't lecture you. You gave the lecture. I just sort of laughed at you getting some things bizarrely wrong and your disjointed college professor style.
We do not inherit the world from our parents. We borrow it from our children.