tag:blogger.com,1999:blog-913439.post983330039781672272..comments2024-02-26T11:30:05.072-08:00Comments on winterspeak.com: Mark Thoma gets a cluewinterspeakhttp://www.blogger.com/profile/13611241702356475764noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-913439.post-50838342890945688272010-06-25T15:34:06.163-07:002010-06-25T15:34:06.163-07:00Ohm: In my neighborhood, I see perfectly good road...Ohm: In my neighborhood, I see perfectly good roads being torn up and repaved, while brain injured children see their services cut. And while spending per pupil has skyrocketed since the 50s, the quality is much lower. Theoretically, spending could be well targeted. In practice, we see "infrastructure" repeated as if we were in the 1930s, and the politically connected at the trough as per the usual.<br /><br />I have a recent post on the negatives of stimulus as currently implemented.winterspeakhttps://www.blogger.com/profile/13611241702356475764noreply@blogger.comtag:blogger.com,1999:blog-913439.post-15593126044408193832010-05-30T21:00:05.819-07:002010-05-30T21:00:05.819-07:00~ "Homes and Businesses are repairing their b...~ "Homes and Businesses are repairing their balance sheets by paying down debt" - that's why the monetary stimulus isn't creating fresh investments and jobs on the Mainstreet, only Gold rallies, and until recently, in stocks.<br /><br />The need of the time is Public Investments; from roads and bridges to Education.Ohm (Ώ)https://www.blogger.com/profile/14090654932133115900noreply@blogger.comtag:blogger.com,1999:blog-913439.post-56381485489017518532010-05-27T21:17:00.795-07:002010-05-27T21:17:00.795-07:00The MMT view of this is shown visually in figure 1...The MMT view of this is shown visually in figure 10 here if anyone wants a graphical representation of the point:<br /><br />http://neweconomicperspectives.blogspot.com/2009/07/sector-financial-balances-model-of_26.htmlSTFhttps://www.blogger.com/profile/16261666934714196464noreply@blogger.comtag:blogger.com,1999:blog-913439.post-11045718732701942412010-05-27T09:04:48.592-07:002010-05-27T09:04:48.592-07:00And they're too arrogant to pay attention to A...And they're too arrogant to pay attention to Accountantswinterspeakhttps://www.blogger.com/profile/13611241702356475764noreply@blogger.comtag:blogger.com,1999:blog-913439.post-23172290572004494522010-05-27T09:00:17.672-07:002010-05-27T09:00:17.672-07:00I shouldn't be too hard on him though, he'...<i>I shouldn't be too hard on him though, he's an academic economist and therefore handicapped in understanding household behavior, finance, and the economy. Still, this is excellent progress!</i><br /><br />The GFC and "balance sheet recession" (coined by Richard Koo) has been a wakeup call to a lot of economists, who now realize that they had not paid enough attention to the role of finance. Moreover, they didn't understand finance well, either. Apparently never bothered to study it very deeply, since markets are only barter systems writ large. That didn't work out so well for them.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.com