tag:blogger.com,1999:blog-53246864840716464.post5064427156958218166..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: Economists from the Left and the Right Agree: Neither the U.S. Nor Europe Is Dealing With the Real ProblemUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-53246864840716464.post-82988193029590677252011-05-28T18:14:26.910-07:002011-05-28T18:14:26.910-07:00The bottom line is simple to fathom: not one polit...The bottom line is simple to fathom: not one politician on either side of the Atlantic has the kahunas to stand up to the banksters.<br /><br />After all, "dealing" with the "problem countries" in Europe all come down to the same end result; make the banks suffer for their bad bets.<br /><br />But the banks are blackmailing big time...with almost no ammo. Yet, pols are shaking in their boots.Cetamuahttps://www.blogger.com/profile/10003386989005291824noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-34372766849393666272011-05-23T20:42:30.864-07:002011-05-23T20:42:30.864-07:00What is absurd about the above Repulican v Democra...What is absurd about the above Repulican v Democrat quarrel is that aggregate demand becomes a political football. That is, people get kicked out of jobs and out of their homes because of a bunch of squabbling idiots in Washington. The question as to what the optimum level of demand is, is a technical question best decided by economists (not that they’re perfect, of course). In contrast, the decision as to what proportion of GDP is grabbed by government, and how that money is spent is a legitimate political decision, best left with politicians.<br /><br />In other words it’s not just monetary decisions that central banks (or some independent committee) should take. They should take aggregate fiscal decisions as well. At the moment, the US economy is effectively a car with two steering wheels, one controlled by a husband and the other by a wife in the middle of a marital breakdown.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-31566199249409844412011-05-23T18:27:31.483-07:002011-05-23T18:27:31.483-07:00Sounds like Niall Ferguson and David Stockman are...Sounds like Niall Ferguson and David Stockman are on the same page.<br /><br />And ... so am I.<br /><br />And ... in Washington's case -- the idea that the Republicans and Democrats are going to put aside their party politics and drive through real change is ... well ... not going to happen.<br /><br />We are going to have to unelect the lot of them to get rid of them.<br /><br />I am all for temporary increases in the ceiling all the way up to the election. I'd hate to see them kick this can down the road past the election.ArkansasAngiehttps://www.blogger.com/profile/01300122286556259346noreply@blogger.com