LOL they BOTH seek a balanced budget… and you guys think this is all a “vast neoliberal conspiracy!” …. So they BOTH must be in on it!
You guys should call Alex Jones on this! Their crafty plot probably hatched at Bohemium Grove on Epstein Island!
Sober up…
Joe Biden is lying about the deficit again.
— RNC Research (@RNCResearch) July 6, 2022
Biden's policies have INCREASED the deficit. pic.twitter.com/mZgBGTvtVO
8 comments:
inflation's coming down. Gas has a $3 "handle" again.
So, the RNC gotta attack something else, and the deficit is always a good target.
Timing might not work out for gop…
But polical polling still says “inflation!” is voters biggest concern…
Election in 16 weeks…
It is all to do with the rising interest rates.
Out of one side of the economists mouth who are advising Biden they say....
The need for expansionary fiscal policy was always framed around " when interest rates are low" and " when central banks can't respond". Which has led to progressives arguing for expansionary fiscal policy.
Out of the other side of their mouths they say.....
That interest rate policy would simply " react" and eliminate any positive effects from increased government spending.
When those around Biden whole belief system are the above then you have a problem. When interest rates rise and they no longer believe " it is cheap to borrow" ie when interest rates are low. Then fiscal gets taken off the table. Everybody frames government spending under the " cheap to borrow" umbrella.
Or only use fiscal in a downturn.
So now that the FED are on rate hike mode it should be no surprise to anyone the narrative is changing. All Biden is doing is front running the narrative given to him by the likes of Summers and all the other nutters who advise him.
It's mainstream economics 101.
Hold up… where’s the “neoliberal conspiracy!”?
Mainstream economics 101 is neoliberalism. The globalists preferred choice to steal resources and extract rent.
Which isn't new. It is a very, very , very old economic model. Before America was a thing and why America had the revolution.
Was used where I am now in Menorca 100BC.
political and economic debates that shaped and ultimately devastated Weimar-era Germany.
https://moneyontheleft.org/2022/04/01/weimar-futurities-with-engelbert-stockhammer/
MONEY AS A CONSTITUTIONAL PROJECT
Christine Desan, Leo Goettlieb professor of law at Harvard Law School to discuss her excellent book, Making Money: Coin, Currency, and the Coming of Capitalism. Desan argues that money is a constitutional project, countering the dubious “commodity” theory common to contemporary economic and legal orthodoxies. Desan develops her constitutional theory of money through rigorous historical examinations of money’s evolution, from medieval Anglo-Saxon communities to early-modern England to the American Revolution and beyond.
https://moneyontheleft.org/2021/01/01/money-as-a-constitutional-project-with-christine-desan-2/
NEOLIBERALISM’S COLONIAL ORIGINS
https://moneyontheleft.org/2021/06/14/neoliberalisms-colonial-origins/
For those who have studied the history of colonial Africa through its fiscal and monetary dimensions, the similarities between colonial macroeconomics and neoliberal macroeconomics are striking. One might be tempted to see the neoliberal era as an avatar of colonialism. Actually, the main principles underlying the fiscal and monetary paradigm of the neoliberal era (1980 – 2021)—sound finance, regressive taxation systems, central bank independence, and the direction of the credit system by oligopolistic banks—were already applied in the European colonies, particularly in Africa.
In the neoliberal era, sound finance, as a principle of macroeconomic management, is based on the idea that governments should avoid fiscal deficits and should even aspire to fiscal surpluses. As Modern Monetary Theory (MMT) shows, this view is based on the misleading analogy between a household and a governing currency-issuer. Indeed, while it may be desirable for households to build up net savings, a government that issues its own currency may not always have an interest in running a balanced budget or even budget surpluses. For its fiscal deficit has as its exact counterpart the financial surplus of the non-government sector. If the government sector wishes to have a balanced budget, this means that the domestic private sector (households and businesses) will only be able to achieve a financial surplus if the rest of the world is in a deficit position vis-à-vis the domestic economy.
During colonial times, sound finance had much more basic and transparent justifications than it does today. As an imperial doctrine by essence, it amounted to saying that the metropolis did not intend to participate financially in the colonial enterprise, which was supposed to be self-financing. The “colonial self-sufficiency policy,” as historians call it, implied that the colonized territories had to pay for the costs of military conquest, the current expenditures of the colonial administrations as well as their investment expenditures, which were often oriented towards infrastructure projects that favored the profitability of private metropolitan capital. The metropolis was just supposed to intervene sporadically, by granting subsidies or loans, when the financial situation of the colonies required it.
On and of course you have Plato
With a brilliant 3 part series
https://mobile.twitter.com/videotroph/status/1545175988220329985?cxt=HHwWgoCw1fzXyPEqAAAA
And any of The books called the " Classics"
All the old books if you read them show clearly it is just a case of De Ja Vu. That we have all been at this point in the debate before. With just today's characters playing different characters from the past.
It is all there in the "classics ".
And Bannon has been here before in many different, shapes and forms over the centuries.
The ideology of Steve Bannon has been on earth many, many, many times before.
“All the old books if you read them show clearly it is just a case of De Ja Vu”
It’s called “doing the same thing and expecting a different result” which is the Platonist methodology…
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