yes and we got the Deflator giving us deflation .Quite amazing to have real GDP larger then nominal GDP but we got that for a while courtesy of the vast decline in the TOT.
We got at the same time Swan delivering a budget which cut spending in nominal terms something Davidson always conveniently forgets.
The other thing is to get stagflation you must have quite regulated labour markets. We had the opposite as the RBA has shown.
It's just that every time low inflation figures come out, a small voice in the back of my head says "stagflation...stagflation..." and I recall how its the obvious problem you get from following Keynesian economic policies.
Davidson is an inconsequential economist. He and his mate Kates don't matter. BTW is Kates still carrying on about the great Sarah Palin? Remember that post of his where he lamented her announcement she wouldn't run for prez and Kates said the USA had lost one of its probably greatest presidents ever? So where it Palin now? Dumped by Fox, can't get any attention, is regarded as a joke even by the GOP, now has her podcast freely available because all the subscribers were leaving, and she rants nonsense all the time. Yep, Davidson and Kates, such profound and deep prophets and analysts. They don't matter.
yes and we got the Deflator giving us deflation .Quite amazing to have real GDP larger then nominal GDP but we got that for a while courtesy of the vast decline in the TOT.
ReplyDeleteWe got at the same time Swan delivering a budget which cut spending in nominal terms something Davidson always conveniently forgets.
The other thing is to get stagflation you must have quite regulated labour markets. We had the opposite as the RBA has shown.
You really couldn't get more badly wrong!
You should charge Davidson rent for living in your headspace.
ReplyDeleteIt's just that every time low inflation figures come out, a small voice in the back of my head says "stagflation...stagflation..." and I recall how its the obvious problem you get from following Keynesian economic policies.
ReplyDeleteYou hear voices in your head?
ReplyDeletewhat is amusing in all this was that Davidson didn't know how stagflation comes about.
ReplyDeleteIf he did he would not have written that rubbish
Davidson is an inconsequential economist. He and his mate Kates don't matter. BTW is Kates still carrying on about the great Sarah Palin? Remember that post of his where he lamented her announcement she wouldn't run for prez and Kates said the USA had lost one of its probably greatest presidents ever? So where it Palin now? Dumped by Fox, can't get any attention, is regarded as a joke even by the GOP, now has her podcast freely available because all the subscribers were leaving, and she rants nonsense all the time. Yep, Davidson and Kates, such profound and deep prophets and analysts. They don't matter.
ReplyDelete