tag:blogger.com,1999:blog-2098432983500045934.post7300146545094453356..comments2024-03-12T22:19:32.339-04:00Comments on The New Arthurian Economics: Who cares what Reagan was?The Arthurianhttp://www.blogger.com/profile/16501331051089400601noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-2098432983500045934.post-91140321214365731182012-06-11T19:58:39.256-04:002012-06-11T19:58:39.256-04:00@The Arthurian - No rush, I'm sure you've ...@The Arthurian - No rush, I'm sure you've got plenty of other items on your plate. I heaven't read too much of his other work but have some on my reading list when time frees up.Anonymoushttps://www.blogger.com/profile/00720722626969395929noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-35013093454747925912012-06-11T05:51:26.444-04:002012-06-11T05:51:26.444-04:00JzB: "Govt spending boosts the economy which ...JzB: <b>"Govt spending boosts the economy which creates jobs, which helps people reduce debt because they have a paycheck."</b><br /><br />But that did not work for the 30 years after 1980, nor for the 30 years before that. <br /><br />We need direct action.The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-60548872038806025042012-06-10T19:55:15.432-04:002012-06-10T19:55:15.432-04:00Woj, I was gonna try reading that Fisher Dynamics ...Woj, I was gonna try reading that Fisher Dynamics paper again this weekend and then get back to you.<br /><br />That didn't work.<br /><br />I think JW Mason is brilliant. I never got all the way through that pdf. But I want to give it another shot.The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-14215219814933849862012-06-10T13:14:25.041-04:002012-06-10T13:14:25.041-04:00@Jazzbummpa - You don't believe the govt will ...@Jazzbummpa - You don't believe the govt will admit policy mistakes, yet do expect the income from govt spending to be spread out over the population? <br /><br />Govt spending, if perfectly crafted, could produce vast new jobs and ensure the funds were directed to those invididuals/groups with the highest propensity to spend (probably not the wealthy). Unfortunately govt's are constrained by political calculations and lack of information.<br /><br />Much of the household debt rests with the bottom 60-70%, yet much of the gains from govt spending goes to the top 20-30%. Govt spending is no panacea either.Anonymoushttps://www.blogger.com/profile/00720722626969395929noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-61206239643431202202012-06-10T12:42:20.087-04:002012-06-10T12:42:20.087-04:00It also illustrates the importance of interest rat...It also illustrates the importance of interest rates. <br /><br />I disagree that the post is right on the mark though. Yes the govt should admit policy mistakes, but that aint ever gonna happen.<br /><br />Nor is jubilee and/or financial repair by the Fed or any other agency.<br /><br />The other thing that should happen but won't is what Krugman is calling for. <br /><br />Govt spending boosts the economy which creates jobs, which helps people reduce debt because they have a paycheck. Which is part of why this: "<i>There is no link between decisions to increase government spending and decisions to reduce personal indebtedness.</i>" is most emphatically not true.<br /><br />The other part is the accounting identity connecting public debt, private debt and the trade balance.<br /><br />JzBJazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-78245533891221249702012-06-09T14:07:48.373-04:002012-06-09T14:07:48.373-04:00Wow...there is hope. I wish he didn't downplay...Wow...there is hope. I wish he didn't downplay the actual Cassandras who have been out there though.<br /><br />Not sure if you've seen this paper yet (or if I mentioned it previously), but its on the Fisher dynamics in Household Debt: http://bit.ly/KjeeaM. One major point of interest is that the rise in private debt has been less about new borrowing and more about the rise in interest costs. I think it supports your cost-push inflation theory.Anonymoushttps://www.blogger.com/profile/00720722626969395929noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-45070317430590553792012-06-09T12:10:40.373-04:002012-06-09T12:10:40.373-04:00Letting the cat out of the bag, tomorrow I link to...Letting the cat out of the bag, tomorrow I link to a post by Rex Nutting<br /><br />http://www.marketwatch.com/Story/story/print?guid=C64D3974-B0D7-11E1-AB8D-002128049AD6<br /><br />I never thought I'd read a post like his.The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-80919348174146156392012-06-09T11:28:12.036-04:002012-06-09T11:28:12.036-04:00Right on the mark. My preferred response is someth...Right on the mark. My preferred response is something along the lines of Steve Keen's modern-day debt jubilee. The Fed lending directly to individuals is also a good option. If only these ideas weren't falling mostly on deaf ears.Anonymoushttps://www.blogger.com/profile/00720722626969395929noreply@blogger.com