Monday, December 21, 2020

Debt is not a sustainable policy decision — Sen. Rand Paul

If you are looking for more COVID bailout money, we don't have any. The coffers are bare. We have no rainy-day fund. We have no savings account. Congress has spent all of the money. Congress spent all of the money a long time ago...
The stuff of genius. (snark)
Stephen Roach falls into a similar hole.

Project Syndicate
The Pandemic's Long Economic Shadow
Stephen S. Roach| | faculty member at Yale University and former chairman of Morgan Stanley Asia

6 comments:

Peter Pan said...

Money ~ Nucleosynthesis

Andrew Anderson said...

Gold Standard thinking will persist as long as we have a Gold Standard banking model - even though we now have inexpensive fiat.

Matt Franko said...

Wiki:

“ He regularly contributed to The Baylor Lariat student newspaper.[14] Paul dropped out of Baylor without completing his baccalaureate degree,[17] when he was accepted into his father's alma mater, the Duke University School of Medicine, which, at the time, did not require an undergraduate degree for admission to its graduate school.”

Similar to Fauci, no scientific training....

Ralph Musgrave said...

If it's inane drivel from the World's leading economists you're after, look no further than Project Syndicate: they've published loads of articles by the World's leading pro-austerity dim-wit, Kenneth Rogoff over the years.

Ralph Musgrave said...

Musgrave's law of sustainability states that if you spot anyone using the word "sustainable" you can be fairly sure you're dealing with a twit. The reason is this.

An accelerating car is not a "sustainable" system because the car is bound to reach it's maximum speed at some point, or the maximum speed allowed by the law on whatever bit of road the car is on. But that does not prove (gasps of amazement) that car accelerators should be banned....:-)

Peter Pan said...

An engine running at maximum speed will disintegrate. Engineering tolerances are meant to be respected.