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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

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    http://www.huffingtonpost.com/robert-reich/gop-austerity_b_1020681.html

    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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