Very true. Not everything Krugman says is wrong. He's proven the case totally in this case. Their need be no second guessing.
The unemployment comes from the opposite direction. From conjuring loanable funds and then diverting them away from infrastructure, business renovation and producer goods. Particularly producer goods and business renovation at the small business level.
Now most of the funds go towards non-job producing nonsense like the buying of derivatives of various sorts, land inflation, deficits which is hand in hand with poor governmental prioritisation of spending. The secondary effects are money going to creditors, which resembles employment-wise a diversion of spending flows away from those which will directly create employment.
Very true. Not everything Krugman says is wrong. He's proven the case totally in this case. Their need be no second guessing.
ReplyDeleteThe unemployment comes from the opposite direction. From conjuring loanable funds and then diverting them away from infrastructure, business renovation and producer goods. Particularly producer goods and business renovation at the small business level.
Now most of the funds go towards non-job producing nonsense like the buying of derivatives of various sorts, land inflation, deficits which is hand in hand with poor governmental prioritisation of spending. The secondary effects are money going to creditors, which resembles employment-wise a diversion of spending flows away from those which will directly create employment.