tag:blogger.com,1999:blog-2761684730989137546.post6325369957883635844..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Household Financial Assets vs Incomemike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-81454037481431976282010-06-15T11:09:00.368-04:002010-06-15T11:09:00.368-04:00Good post, Matt. And as anyone who understands MMT...Good post, Matt. And as anyone who understands MMT knows, the Federal Government can supply those financial assets immediately by running higher deficits. However, by restraining its deficit spending the private sector must recover its NFA position more slowly in the only way that is possible: by cutting back on consumption. Of course that leads to lower levels of output and, hence, employment, which is exactly what has been happening.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.com