The View From 1776

The Socialist Daily Worker - October 26, 2010

Counter arguments to the New York Times’s house propagandist for Keynesian economics.

Robert Murphy Takes On Krugman’s “Hangover Theory” Caricature


The Austerity Bogey


Falling Into Economic Illiteracy

Posted by .(JavaScript must be enabled to view this email address) on 10/27 at 12:25 AM
  1. Much of this Austrian theory will be put to rest since their ideology is based on the belief that the bond vigilantes are coming. For the last two years Mr. Brewton and the Austrians have been screaming about the coming inflation.

    The inability for your predictions to become reality is an indication of the vacuity of your theories.

    In contrast, Krugman's Keynesian predictions have been prescient.

    Britian has embarked on a wild course of austerity, which should present a test case of which school of thought has a firmer grip on reality.
    Posted by .(JavaScript must be enabled to view this email address)  on  10/27  at  11:49 AM
  2. Are you for real, son?
    Posted by .(JavaScript must be enabled to view this email address)  on  10/27  at  12:55 PM
  3. The Fed is likely to announce next week a new round of buying Treasury bonds
    Posted by .(JavaScript must be enabled to view this email address)  on  10/27  at  10:30 PM
  4. It's been going on for a wee bit there, sparky. How's it worked so far? Money printing is money printing whether it's called "QE", Tarp or the generic "stimulus". The fed has also been quite active in "permanent open market operations" which buys treasuries, MBS or other instruments from the banks and primary dealers in the hope that the newly 'printed' dollars will be redeployed into risk assets in order to support prices and prevent the inevitable market clearing process. Clearing the market would lower prices and make it quite evident that the clients of the central bank (and the administrative authorities who regulate them) that those clients are in fact, insolvent! We can't have that! All these jokers have done is precisely what the central elite encouraged them to do: Dance while the music is playing. Blow bubbles, make the easy money and watch your campaign coffers filled to overflowing. It's a scam, kid.

    Those 'policy makers' who have deluded themselves into believing that the economy can be manipulated to serve the purposes of the political and financial elite are counting on a few things, the most important being the childish naivete of the American people. Prove them wrong. Grow up! Stop being a tool!
    Posted by .(JavaScript must be enabled to view this email address)  on  10/28  at  12:17 PM
  5. Tom C:

    You seem to view the available options as a Hobson's choice:

    Either engage in pump priming as the Fed is now doing (and crash the economy, in your view, with horrendous inflation certain to follow) or "clear the market" now and watch the economy crash as it "cleanses" itself.

    Your pessimism reminds me of Schopenhauer who saw human life and the reproductive cycle as a cyclical process that continues pointlessly and indefinitely until it is terminated by extinction.

    Have a nice day!
    Posted by .(JavaScript must be enabled to view this email address)  on  10/31  at  04:23 PM
  6. Again JJ, you act the fool. The government is in the mess it's in because of the ideological nonsense of those attached to the central state and it's short sighted tendency to play interest group politics which consists of buying votes and distorting markets with other peoples money. Why would any sane individual wish to hinder the market clearing process? Give me a reason other than the self-serving rationalization of polticians and their keyensian claptrap. Simply put, reality can be avoided for only so long.
    Posted by .(JavaScript must be enabled to view this email address)  on  11/01  at  04:34 PM
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