tag:blogger.com,1999:blog-2761684730989137546.post3616796221367081732..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: "Deficits do matter, but not how you think" — Interview with Stephanie Keltonmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2761684730989137546.post-28411498229326808212013-03-25T15:39:42.057-04:002013-03-25T15:39:42.057-04:00Learning curve.Learning curve.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-62913980478307798012013-03-25T14:09:21.610-04:002013-03-25T14:09:21.610-04:00He's been making corrections (slowly). I just...He's been making corrections (slowly). I just sent another big batch. Incredible. Stephanie Keltonhttps://www.blogger.com/profile/00491290155595067477noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-65979235240579937972013-03-24T16:05:14.442-04:002013-03-24T16:05:14.442-04:00Yeah, unfortunately the writer's botch substit...Yeah, unfortunately the writer's botch substituting "spend less" for "spend more" makes it sound like Stephanie is making a crowding out point there.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-63292975417599366462013-03-24T15:47:45.759-04:002013-03-24T15:47:45.759-04:00One word -- butchered.One word -- butchered.Stephanie Keltonhttps://www.blogger.com/profile/00491290155595067477noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-41362130100607592782013-03-24T14:47:51.073-04:002013-03-24T14:47:51.073-04:00The paragraph where Stephanie said "When the ...The paragraph where Stephanie said "When the private sector wants to increase its holding of dollars and net financial assets, and save less and spend more, the only way that can happen is for another sector to spend less. If the government doesn't play ball and run a deficit, it will cause a recession." <br />- is mangled, I think. Maybe it was transcribed wrong? Shouldn't it read, <br /><br />"if the private sector wants to increase its holding of dollars and financial assets, save *more* and spend *less*, the only way that can happen is for another sector to spend *more*. If the government doesn't play ball and run a deficit, it will cause a recession."<br />Joehttps://www.blogger.com/profile/15197727918414570446noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-43316852259409136082013-03-24T13:54:12.838-04:002013-03-24T13:54:12.838-04:00Keynes put Stephanie’s point in ten words: “Look a...Keynes put Stephanie’s point in ten words: “Look after unemployment and the budget will look after itself”. <br /><br />Unfortunately the morons in power, and in many university economics departments don’t understand that point.<br /><br />Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-78745241233561490852013-03-24T13:45:01.789-04:002013-03-24T13:45:01.789-04:00" it is quietly plummeting at its fastest pac..." it is quietly plummeting at its fastest pace in two generations because the economy has been adding jobs."<br /><br />I hope this doesnt give any morons the impression that "everything is back on track..." ... at least any employment gains have not been the only (short term) reason for the deficit having a decreasing result... <br /><br />We have had the Jan 1 Payroll tax increase (increases deposits short term) and a drop in Net Withdrawals over the last few months prior to February...<br /><br />February was a month that posted an extremely high rate of deficit growth in fact... mostly due to IRS Tax Refunds on the Withdrawal side... <br /><br />December results were a 20B SURPLUS, January a 30B deficit, then February the deficit blew out to 228B on a blowout 443B of Net Withdrawals so (<i>ultra</i> short term) the deficit result has been back to an increasing trend.<br /><br />rsp,Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com