tag:blogger.com,1999:blog-2098432983500045934.post470921625718870354..comments2024-03-12T22:19:32.339-04:00Comments on The New Arthurian Economics: Credit is a sandwichThe Arthurianhttp://www.blogger.com/profile/16501331051089400601noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2098432983500045934.post-85045433240314801392012-07-21T15:14:21.978-04:002012-07-21T15:14:21.978-04:00Art,
It is a real "Great Depression"
Y...Art,<br /><br />It is a real "Great Depression"<br /><br />You might also want to see the video<br />http://www.youtube.com/watch?v=ICx3AfSlc-w<br /><br />US streets full of formerly middle classClonalhttps://www.blogger.com/profile/18290009954839887975noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-31562302184246154222012-07-21T14:44:23.049-04:002012-07-21T14:44:23.049-04:00Clonal, I was thinking about this the other day. T...Clonal, I was thinking about this the other day. The FIRST time I heard of Richard Koo was when you linked to him here. Since then, I've heard of him more and more and now his "balance sheet recession" is part of the lexicon.<br /><br />Yeah, it was just the other day, after you linked to Lars Syll's blog. I checked that one out briefly and it was definitely interesting. <br /><br />I don't know where you come up with all these great links! Thanks, Clonal.The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-24355455014795673812012-07-21T14:00:02.580-04:002012-07-21T14:00:02.580-04:00State government debt and private debt can only be...State government debt and private debt can only be extinguished if state government income and private income increases. An almost impossible task in a deflationary environment. Hence the Federal government has to step up and increase state government and private income - in other words increase the Federal Government deficit!<br /><br />You might like to see this video lecture from Richard Koo<br /><br />http://www.youtube.com/watch?v=DFxWCyHRD1IClonalhttps://www.blogger.com/profile/18290009954839887975noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-19424792337779191042012-07-21T02:38:12.666-04:002012-07-21T02:38:12.666-04:00Clonal -- if only private debt was so easily extin...Clonal -- if only private debt was so easily extinguishable!<br /><br />DH, I'd have to go back to school before I could read that link. Or get a new brain, maybe.The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-83899153588378745712012-07-21T00:11:24.803-04:002012-07-21T00:11:24.803-04:00Dude, just found this:
http://www.federalreserve....Dude, just found this:<br /><br />http://www.federalreserve.gov/pubs/feds/2012/201232/index.html<br /><br />DHAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-75172594114745781642012-07-20T23:41:01.262-04:002012-07-20T23:41:01.262-04:00Art,
In the US, you have to distinguish between p...Art,<br /><br />In the US, you have to distinguish between private debt, non federal government debt, and federal government debt. Each of these is different. Federal Debt is extinguishable any time at the pleasure of the President it does not even require an act of Congress to do so!Clonalhttps://www.blogger.com/profile/18290009954839887975noreply@blogger.com