reply to elray
Re: Blue State MBAs
said by elray:Are you aware the government can print a $16 Trillion proof platinum coin and pay off all its debts in one day?
Must be the same group that believes you spend your way out of debt.
Even Reed Hastings couldn't "clarify" things worse.
Or that $1.6 T in debt is held by the Fed, and another $4.5 T is held by the SS trust? So we could pay those off without causing even a hint of inflation.
Your problem is you think "money" is a physical quantity. You want to apply your own "gut feelings" to national or international economics. Only a simpleton goes so far as to reject modern Keynesian economics based on what he wants to believe is true.
The entire Euro situation is proof that the idea of "expansionary austerity" is a fairy tale that, just as in the 1930s, does not work. On the other hand the data clearly demonstrates stimulus spending has been a highly effective method of escaping the recession.
But of course people like yourself, who rely on their "gut feelings" when talking about economics, won't look at the nuanced data to understand why stimulus has been so effective, even in the US.