Believe those who are seeking cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 truth. Doubt those who find it. Andre Gide

Thursday, November 7, 2013

Austerity and Stupidity

 
A thoughtful piece by Professor Lorenzo Bini Smaghi via Vox: Austerity and Stupidity.

2 comments:

  1. That is a thoughtful & interesting piece, thank you for bringing it to my attention.

    My only real complaint about it is that not all "austerity" is equal. It also seems that "austerity" means different things to different people. I think digging into cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 details of each government's policy is key to understanding cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 effects.

    The value added of Prof. Smaghi's piece is to once again draw our attention to cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 old saw: yesterday's solutions are today's problems.

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  2. The concept of austerity is not applicable to a government who always has a infinite buyer for its debt. They have no need to restrain cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir use of resources if all that consumption of resources is settled by a medium that is infinite. End cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 debt ceiling...and end taxation. The gov can issue debt annually in any quantity, and cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 fed can buy it in any quantity, and a citizenry are not even needed. The following year, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 gov can remit a small "austerity" inspired interest portion back to its only debt buyer, and issue an equal amount of debt in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 new year for cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 same quantity plus an amount it knows cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 upcoming interest payment to be. It can work forever as long as cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 gov knows its infinite buyers required interest in advance.

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