Jason hasn't tweeted for a week or so. I'm worried he's blown a fuse in anger about how the likes of Creighton continue to treated this issue.
Also, I'm curious about how he's feeling about Ergas's take today (given Jason used to have a lot of time for him), which is apparently that to get out of the future economic mess, austerity is the only way to go.
Because people are pretty clueless about viruses and immunology, all they can do is toggle back and forth with the bipolar choice between making everyone stay at home, and making everyone go back to work. Competent policy development, would mean making strides in low debt wealth creation, AND ramping up the fight against the virus, both at the same time.
What do we mean by austerity here? See if Ergas means being nasty to poor people, well one doesn't want to have too much patience with that. Unemployment benefits and sickness payments, this sort of thing, compared to maintaining JC in the lifestyle he's become accustomed too, public service salaries welfare, banker overhead .... being nice to poor people is pretty cheap in the medium term.
But if by AUSTERITY you mean good budgeting, reducing public debt, of course you are completely wrong, you've got no evidence at all, and you are just being idiotic, bloody-minded, and relying on magical thinking. The splurge during the GFC was a catastrophe. It threw tens of thousands of people out of work and what for? Just so you could see nominal GDP not drop? What sort of drooling idiots exercise was that?
It would be much better if nominal GDP HAD dropped if that means more people employed and less debt. So this could be just silly old fools going over the same mental handicap grooves. Still thinking about the Nazi Germany recovery or the American employment situation after they exported 11 million young men overseas. This one eye blind view of history to justify policies that have never worked in the past and will never work in the future.
I think Soony is not to something with Coronavirus and these libertarian intellectual wannabees
ReplyDeleteWhat were u trying to say, Homer?
ReplyDeleteJason hasn't tweeted for a week or so. I'm worried he's blown a fuse in anger about how the likes of Creighton continue to treated this issue.
Also, I'm curious about how he's feeling about Ergas's take today (given Jason used to have a lot of time for him), which is apparently that to get out of the future economic mess, austerity is the only way to go.
Soony has been on this for a while.
ReplyDeleteErgas was wrong about the GFC. Adopting Austerity following a depression is madness.
It is clear he has learnt little.
Because people are pretty clueless about viruses and immunology, all they can do is toggle back and forth with the bipolar choice between making everyone stay at home, and making everyone go back to work. Competent policy development, would mean making strides in low debt wealth creation, AND ramping up the fight against the virus, both at the same time.
ReplyDelete"austerity is the only way to go."
ReplyDeleteWhat do we mean by austerity here? See if Ergas means being nasty to poor people, well one doesn't want to have too much patience with that. Unemployment benefits and sickness payments, this sort of thing, compared to maintaining JC in the lifestyle he's become accustomed too, public service salaries welfare, banker overhead .... being nice to poor people is pretty cheap in the medium term.
But if by AUSTERITY you mean good budgeting, reducing public debt, of course you are completely wrong, you've got no evidence at all, and you are just being idiotic, bloody-minded, and relying on magical thinking. The splurge during the GFC was a catastrophe. It threw tens of thousands of people out of work and what for? Just so you could see nominal GDP not drop? What sort of drooling idiots exercise was that?
It would be much better if nominal GDP HAD dropped if that means more people employed and less debt. So this could be just silly old fools going over the same mental handicap grooves. Still thinking about the Nazi Germany recovery or the American employment situation after they exported 11 million young men overseas. This one eye blind view of history to justify policies that have never worked in the past and will never work in the future.