Friday, August 31, 2012

The Debt Doomsday crowd should now be called the Debt Taliban!

They are now using children to spread their misguided, ignorant, lies!

14 comments:

Matt Franko said...

Great job Mike as usual.

This should be simple but....

btw I like this little girls message better:

http://www.godlikeproductions.com/forum1/message1869207/pg1

Anonymous said...

like the democrats don't do the same thing.

DAB said...

@Anonymous

"like the democrats don't do the same thing."

I don't think you realize where you are. If you are looking for someone to disagree with you you have come to the wrong place.

Matt Franko said...

Right DAB, I try to keep it along straight "party lines" between morons and non-morons... rsp,

DAB said...

lol

I am definitely steeling that one.

Edmund said...

Official anthem of the debt hawks:

http://www.youtube.com/watch?v=eHg9PJc1Nds&feature=related

It's an Iron Maiden tune off their most recent album. It's about a couple who think the world's going to end in nuclear Armageddon, who disbelieve the "lies" they see on the TV that suggest everything's fine, and kill themselves by taking poison. They "knew" it was the end - facts be damned!

Anonymous said...

Jeff Faux: Romney will try to mitigate the message, but people's confusion about the crisis and Obama's failures, presents right with historic opportunity
http://www.youtube.com/watch?v=G_BXRNYD4qA&feature=g-all-lik

Ralph Musgrave said...

It’s not just U.S. politicians who are pig ignorant when it comes to national debts, deficits, etc. Organisations which are supposed to understand economics, like the OECD, are almost as bad. I’ve gone into some details about this here:

http://ralphanomics.blogspot.co.uk/2012/08/drivel-from-economic-commentators-on.html

The basic mistake that the ignoramuses make is to view government as they view a household or firm: they see government in micro-economic terms. Hopefully we are in a short and temporary phase in history at the end of which the ignoramuses will learn to see things in MMT terms.

Chewitup said...

Mike,
I was thinking that you could explain what would happen if we paid off the debt. Where would all that cash go? Where would it otherwise be invested? Is there another risk free asset substitute? Would it be inflationary? We know it would not just sit there. This would be the mother of all QE.
Just a thought.

Bob Roddis said...

The basic mistake that the ignoramuses make is to view government as they view a household or firm: they see government in micro-economic terms.

Of course the government does indeed operate pursuant to the same “micro-economic” laws as does a household or a firm, except that the government can commit fraud, rob, steal, mass-murder and torture to get its way. I have the hardest time convincing average people to understand that Keynesians actually think that governments have magically powers that allow them to escape and/or override basic economic laws of reality and the galaxy, like the law of scarcity. Your entire “worldview” such as it is depends upon the infantile notion that the same set of resources can exist and be utilized in more than one place at the same time.

Keynesians used to be so purposefully obscure. The wide-eye innocence you bring to spouting this nonsense performs an important public service for educating the public regarding the truth about Keynesianism.

Further, the public does not need any new “dollars”*. There are plenty of “dollars” around. New “dollars” passed out by the government merely steal and shift purchasing power from those holding the existing “dollars” to those getting the new “dollars” first and distort the price, investment and capital structure via distortion of economic calculation and theft of purchasing power. And passing out new “dollars” is still not going to create that vast army of nursemaids to care for tens of millions of senile baby boomers or the goods and services that they will demand to perform even one day of this type of work.

•The term “dollar” in the US Constitution means the “Spanish milled dollar” containing three hundred and seventy five grains and sixty four hundredths of a Grain of fine Silver.

paul said...

The millions of words written here trying to bring Bob out of his stupor have been wasted.

All is not lost. Maybe someone got something out of it.

Mark Plus said...

Bob Roddis writes:

>except that the government can commit fraud, rob, steal, mass-murder and torture to get its way.

Apparently Austrian economists think they still live in the 1940's. Nearly 100 countries have renounced the use of capital punishment. Consider the two countries which figure prominently in Hayek's famous tract: Germany has abolished the death penalty, and Russia has put it on moratorium. Yet these and many other countries still manage to raise taxes and regulate their respective economies without threatening to murder their citizens for noncompliance, so this sort of Hayekian propaganda looks ridiculous now:

http://americandigest.org/roadtoserfdom019.jpg

Rob Boddis said...

I have the hardest time convincing average people to understand that Austrians actually think that Gold Standard has magical powers that allow it to escape and/or override basic economic laws of reality and the galaxy. Their entire “worldview” such as it is depends upon the infantile notion that Gold Standard can solve all problems.

Austrians used to be so purposefully obscure. The wide-eye innocence they now bring to spouting this nonsense performs an important public service for educating the public regarding the truth about Austrianism.

Gold Standard merely steals and shifts purchasing power from those who work to those that hoard gold, and distorts the price, investment and capital structure via distortion of economic calculation and theft of purchasing power. And Gold Standard is still not going to create that vast army of nursemaids to care for tens of millions of senile baby boomers or the goods and services that they will demand to perform even one day of this type of work.

Anonymous said...

Ha ha ha!I think "Rob Boddis" is a nickname for that evil thief Robin from Sherwood forest that steal gold from the good and kind prince John!Shame on you Rob Boddis,we have to contact the good and decent Sheriff of Nottingham so he deal with you :D!!!