An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Wednesday, April 18, 2012
Marshall Auerback — The Truth Revealed About Debt and Deficits
Spending and debt are necessary in any economy. The key question is which sector should carry the burden: families and businesses, or the government?
We were talking on a post a little while back about finding "the guy" to best dispense the MMT/MMR message.
Ive always thought Marshall was top notch. Always a smile and extremely fast on his feet. He gets on a lot of the second level finance channels a good bit. He would be great on CNBC with Mike.
One thing Ive been doing the last year or so when talking to the "morons" about our debt crisis, and this plays into something Marshall mentioned in his article, is to ask them if they think private and public debt are equivalent (relative to their household). Usually they say yes, to which I then say well then I guess youll gladly get rid of the 100,000$ TBill that is an albatross around your neck and take my 100,000$ mortgage that is an albatross around my neck. Its yet to change anyone (Ive got some quizzical stares).................... they are quite dense it seems.
I just think Marshall is the most marketable and palatable to take to the "lamestream media". Good looking, friendly and never seems like he is getting flustered (plus he can stay on message)
Mike can get a little ranting at times and Warren is just not made for TV (he works ok on radio)
"If anyone among you is presuming to be wise in this eon, let him become stupid, that he may be becoming wise, 19 for the wisdom of this world is stupidity with God. For it is written, "He is clutching the wise in their craftiness." 20 And again, The Lord knows the reasonings of the wise, that they are vain." 1 Cor 3:18
We (who are in truth) look "stupid" to the true morons. We probably look like "morons" to the elites when we say something like "govt doesnt need taxes to be able to spend" and "we are not leaving our debt to the grandchildren". They look at us and scratch their heads.
But they are the "1%". Paul put it like this:
"there are not many wise according to the flesh; not many powerful, not many noble," 1 Cor 1:26
I think this is the "1%" Paul is talking about so to speak.
"19 For it is written, I shall be destroying the wisdom of the wise, and the understanding of the intelligent shall I be repudiating. 20 Where is the wise? Where is the scribe? Where is the discusser of this eon? Does not God make stupid the wisdom of this world?" 1 Cor 1:19
It doesnt look to me that they can likely get out of this on their own at this point.
It looks like 'vanity' is involved based on Paul's above here: "The Lord knows the reasonings of the wise, that they are vain" and then here: "as it is written, He who is boasting, in the Lord let him be boasting."
Our elites just dont seem to be able to give ANY credit/glory to God in this era; even just perfunctory glory, any at all would probably be ok, but they are providing NONE. It's all about them, how smart THEY are, "masters of the universe", "doing God's work", etc... Hence He is making them morons.
This looks very bad for them, I dont see how they can get out of it frankly.
For some reason, we have been given the ability to see thru these falsehoods and are speaking out on it to the best of our abilities. (We should seek to be thankful about this imo.)
We were talking on a post a little while back about finding "the guy" to best dispense the MMT/MMR message.
ReplyDeleteIve always thought Marshall was top notch. Always a smile and extremely fast on his feet. He gets on a lot of the second level finance channels a good bit. He would be great on CNBC with Mike.
Maybe you could bring him along some time Mike>
One thing Ive been doing the last year or so when talking to the "morons" about our debt crisis, and this plays into something Marshall mentioned in his article, is to ask them if they think private and public debt are equivalent (relative to their household). Usually they say yes, to which I then say well then I guess youll gladly get rid of the 100,000$ TBill that is an albatross around your neck and take my 100,000$ mortgage that is an albatross around my neck. Its yet to change anyone (Ive got some quizzical stares).................... they are quite dense it seems.
ReplyDeleteMike, Marshall, and Warren always just unapologetically tell the truth in their media and let the chips fall where they may.
ReplyDeleteNone of these 3 ever try to "finesse" it, they simply tell it like it is.
And it could be looked at that all 3 put themselves "at risk" by standing by the truth in this, against the "mainstream" falsehoods...
I have maximum respect for all 3 of these MEN.
I agree Matt. I respect all of them as well.
ReplyDeleteI just think Marshall is the most marketable and palatable to take to the "lamestream media". Good looking, friendly and never seems like he is getting flustered (plus he can stay on message)
Mike can get a little ranting at times and Warren is just not made for TV (he works ok on radio)
Matt,
ReplyDeleteWell said. It takes big brass ones to do what they do.
Matt,
ReplyDeleteYou've designated a new class - the "moron class".
They keep all of the "lesser" classes down. They are the enemy, the ones that must be discredited.
BTW dis anyone notice David Beckworth has picked up on the Platinum Coin™ gambit?
The old guard will claim "we knew it all the time". Just waiting for the right moment.
Paul,
ReplyDeleteGot it from your namesake here:
"If anyone among you is presuming to be wise in this eon, let him become stupid, that he may be becoming wise,
19 for the wisdom of this world is stupidity with God. For it is written, "He is clutching the wise in their craftiness."
20 And again, The Lord knows the reasonings of the wise, that they are vain." 1 Cor 3:18
We (who are in truth) look "stupid" to the true morons. We probably look like "morons" to the elites when we say something like "govt doesnt need taxes to be able to spend" and "we are not leaving our debt to the grandchildren". They look at us and scratch their heads.
But they are the "1%". Paul put it like this:
"there are not many wise according to the flesh; not many powerful, not many noble," 1 Cor 1:26
I think this is the "1%" Paul is talking about so to speak.
"19 For it is written, I shall be destroying the wisdom of the wise, and the understanding of the intelligent shall I be repudiating.
20 Where is the wise? Where is the scribe? Where is the discusser of this eon? Does not God make stupid the wisdom of this world?" 1 Cor 1:19
It doesnt look to me that they can likely get out of this on their own at this point.
It looks like 'vanity' is involved based on Paul's above here: "The Lord knows the reasonings of the wise, that they are vain" and then here: "as it is written, He who is boasting, in the Lord let him be boasting."
Our elites just dont seem to be able to give ANY credit/glory to God in this era; even just perfunctory glory, any at all would probably be ok, but they are providing NONE. It's all about them, how smart THEY are, "masters of the universe", "doing God's work", etc... Hence He is making them morons.
This looks very bad for them, I dont see how they can get out of it frankly.
For some reason, we have been given the ability to see thru these falsehoods and are speaking out on it to the best of our abilities. (We should seek to be thankful about this imo.)
Resp,
Matt,
ReplyDeleteLot's of wisdom in the Bible. Seems like many don't notice the good stuff.