One of the best Friday pieces I've seen yet. Really neat to see the insight and comparison. Sounds like they're on the same page on most things, just a difference in the correction time they think we'll have.
Thank you for covering this topic. I know this could easily turn into an even deeper dive and become a fiscal/economic never ending topic. I would have appreciated hearing their thoughts on our measures of inflation. Both mention we should keep an eye on it and that it seems in check so far, yet I'm interested in whether they think our current measures accurately reflect inflation.
Thank you for this article. I'm still frightened with the current size of our national debt and wish we would knock it down as opposed to ignoring it. I am dumbfounded that it is now $28tril.
Thanks for this comparison. It sound like they agree debt really does matter but it's the context of time that frames how much it matters. I agree with the comments from the other readers that this could be a good topic for a future deep dive.
"Any company that has an economist certainly has one employee too many." (Warren Buffett) "History might not repeat itself, but it often rhymes." (attributed to Mark Twain) "Those who fail to learn from history are condemned to repeat it." (Churchill, quoting Santayana) "The trouble with socialism is that eventually you run out of other people's money." (Margaret Thatcher)
We need not speculate about the fate of governments that borrow to spend. We know what happened before: to the Weimar Republic in 1923, on Wall St in 1929; to Hungary in the '40s and Yugoslavia in the '90s; to the State of Illinois recently; and to Venezuela (a decade ago the second most prosperous nation in the New World, after us, and with the world's largest oil reserves). It is not a question of what will happen. That is perfectly clear. It is only a question of when.
One of the best Friday pieces I've seen yet. Really neat to see the insight and comparison. Sounds like they're on the same page on most things, just a difference in the correction time they think we'll have.
Thanks for this post! I think it would have benefitted from having a voice from the MMT community. Maybe a future deep dive!
Thank you for covering this topic. I know this could easily turn into an even deeper dive and become a fiscal/economic never ending topic. I would have appreciated hearing their thoughts on our measures of inflation. Both mention we should keep an eye on it and that it seems in check so far, yet I'm interested in whether they think our current measures accurately reflect inflation.
Thank you for this article. I'm still frightened with the current size of our national debt and wish we would knock it down as opposed to ignoring it. I am dumbfounded that it is now $28tril.
Thanks for this comparison. It sound like they agree debt really does matter but it's the context of time that frames how much it matters. I agree with the comments from the other readers that this could be a good topic for a future deep dive.
"Any company that has an economist certainly has one employee too many." (Warren Buffett) "History might not repeat itself, but it often rhymes." (attributed to Mark Twain) "Those who fail to learn from history are condemned to repeat it." (Churchill, quoting Santayana) "The trouble with socialism is that eventually you run out of other people's money." (Margaret Thatcher)
We need not speculate about the fate of governments that borrow to spend. We know what happened before: to the Weimar Republic in 1923, on Wall St in 1929; to Hungary in the '40s and Yugoslavia in the '90s; to the State of Illinois recently; and to Venezuela (a decade ago the second most prosperous nation in the New World, after us, and with the world's largest oil reserves). It is not a question of what will happen. That is perfectly clear. It is only a question of when.