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Reich: The Austerity Death Trap

Discussion in 'Economics and Financials' started by padre31, Oct 20, 2011.

  1. padre31

    padre31 Premium Member Luxury Box

    Nov 22, 2007
    inching to 100k posts

    I'm not a fan of Reich, or the huffington post, however I am a fan of trying to gather facts to come to an informed opinion.

    What strikes me about this is he is both "right" and simultaenously "wrong"./

    Which means, in Keynsian Thinking, the answer is always monetization/debt/expand the credit supply, however after demonstrable failures to launch the prior 2 times, one simply must wonder exactly how much money and money supply he would propose to create?

    By his theory, Zimbabwe should be booming, after all they had 1 billion "dollar" notes, and yet..uhm, no, it is not.

    It strikes me that Keynsian Reply is ALWAYS "well, they did not spend enough", which is a convenient dodge imho, how about "your plan did not perform the way you put forward that it would"?

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