Bill Mitchell – billy blog
Alas, the window seems to be closing
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
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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Monday, March 8, 2021
Bill Mitchell — Alas, the window seems to be closing
My MOOC is in full-swing (over 3000 participants) and I am quite busy getting Week 2 up and running and then Weeks 3 and 4. So, today, we have our regular guest blogger, Professor Scott Baum from Griffith University who has been one of my regular research colleagues over a long period of time. Today he is examining the creeping tendency in the political debate and media to start to focus on questions like when will the debt be paid back. Journalists have been asking me to estimate the quarter when Australia can return to fiscal surplus, as if that is a target to aspire to. Anyway, over to Scott …
Bill Mitchell – billy blog
Alas, the window seems to be closing
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
Bill Mitchell – billy blog
Alas, the window seems to be closing
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
More figurative language (“window!”) from this other Art degree MMT guy... doesn’t help... won’t help...
ReplyDelete“ {Bill editorial note: Chalmers is constantly going on about the public debt problem in Australia and the need for fiscal surpluses – some rethink}”
ReplyDeleteLOL so you think whipping out another figure of speech “Overton window closing!” is going to help?
This is like the morons “the punch bowl is going to be taken away!” or something...
Why not just illustrate in the regulatory Accounting abstractions how a fiscal surplus accrues USD deposit liability balances in the banking system without a corresponding Asset accruing and thus suppresses the depository system regulatory ratio and causes a credit contraction and eventually an economic recession?
Just like now they are adding Reserve Assets “so banks have reserves to lend out!” in their continuing reification error and are increasing depository assets and suppression of regulatory ratio and causing the current credit contraction and nascent risk asset reduction in equity prices...
Countering the The Art degree figurative language with Just more Art degree figurative language doesn’t work...
This whole “The window is closing!” schtick isn’t going to help...
Warning someone they won't be part of the "cool gang" can be effective.
ReplyDeleteMatt’s F art degree is taking off....NOT!
ReplyDelete