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.
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Sunday, January 13, 2013
Money and Public Purpose — 4. Debt, Deficits Or Unemployment:Identifying Real Threats To Growth
Check out John at about 1 hour 12 minutes where John tells a story about a conversation he had with a guy where John pressed this guy to reveal the mechanism the Fed had to force "money" on people and the guy started dispensing false metaphors like:
John: "What mechanism does the Fed have?"
Moron: "The Fed is like a helicopter"
John: "No, What mechanism does the Fed have?"
Moron: "It's like a Fireplace with logs"
John: "No, What mechanism does the Fed have?"
Moron: "Its like an Orchard where you plant trees"
John: "Checkmate."
False metaphor is the last resort of the moron... doesnt work on non-morons.... revealing!
I liked that bit at the end where Harvey, lost in the weeds a bit on trade and exchange rates, channeled Mike Norman to say if we're at full employment, screw the rest of it.
oh god I am terrible in the beginning. I get somewhat better after that. thanks for the heads up.
ReplyDeleteMoron Metaphor Alert:
ReplyDeleteCheck out John at about 1 hour 12 minutes where John tells a story about a conversation he had with a guy where John pressed this guy to reveal the mechanism the Fed had to force "money" on people and the guy started dispensing false metaphors like:
John: "What mechanism does the Fed have?"
Moron: "The Fed is like a helicopter"
John: "No, What mechanism does the Fed have?"
Moron: "It's like a Fireplace with logs"
John: "No, What mechanism does the Fed have?"
Moron: "Its like an Orchard where you plant trees"
John: "Checkmate."
False metaphor is the last resort of the moron... doesnt work on non-morons.... revealing!
rsp,
Nathan,
ReplyDeleteTaped audios and videos of yourself always brings out the inner critic. No you did well. It was not bad at all. Thanks for moderating the talk
Thanks. Much obliged!
DeleteI liked that bit at the end where Harvey, lost in the weeds a bit on trade and exchange rates, channeled Mike Norman to say if we're at full employment, screw the rest of it.
ReplyDelete