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Tom,It moves me to tears to see Krugman using MMT framing in his Opinion Page articles..."How many times do we have to show that this notion is wrong both in theory and empirically? America can’t run out of cash (except politically,"The man must have a crush on Stephanie.
More evidence we are closing the last mile.
it basically can’t experience an interest rate spike unless people see an increased chance of economic recovery and hence a rise in short-term rates.Which "people?" The ones who work at the Fed?
Yeah, Krugman has been talking the MMT line lately. Good for him, and good for us...
There is no doubt that MMT has made a big impact on Krugman. I can understand him as human being not wanting to admit his mistakes. But as a public servant he should be man enough to come out of closet.
"Bond Vigilantes" is Rubinomics 101.This goes back to the first Clinton admin now 20 years...Now you have Sperling in there, Geithner, Lew, etc.. these are all moron acolytes of the moron Rubin... ie "blind guides of the blind"...Rubinomics has been the scourge of the Democrat Party for going on 20 years now...The Dems have to shit can Rubinomics if they are ever going to get anywhere...
The Dems have to shit can Rubinomics if they are ever going to get anywhere...Rubinomics is synonymous with the party establishment. It's basically fiscally conservative and socially liberal = moderate Republican. The strategy is to capture the center with the GOP moving ever further to the right. It assumes that the left has no where else to go, while also being able to conform to the wishes of the big donors.
Krugman needs to keep this personal wrt Peterson (which I admit he has been doing but not enough imo) where Peterson has been a big problem in general (bipartisan moron creator) in the US... and perhaps consider making it personal with Rubin also, where Rubin has been the source of much problems inside the Democrat party (Democrat moron creator) ....rsp,
Unfortunately, Pete and Bob are winning so far, and there is really no one of substance challenging them in the Dem Party.
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