Good news on economic front

[Jubial Priest]

Dear God

These two commies are more hilarious than the two Ronnies.
Marx is rolling over in his grave to spoon Lenin every time these two open their keyboards.

[John Maynard Keynes]

yawn

[Leftofcentresalterego]

And here is the collective veiwpoint of 21 economists. As with the previous article, I don't share all of their veiws but I completely agree with the general cut and thrust.


We can all go on the dole and the government can print money, I have stopped work now I'm a believer.

[JW Frogen]

Leave a Reply

Brevity was not your forte?

Nor basic math.

[Leftofcentresalterego]

Jubial Priest, you wouldn't know a commie if one sat on your face and crapped in your mouth.

Come to think of it, I'll bet IQ can put you on to a site where you can see that in action. He probably owns it

[Leftofcentresalterego]

Frogan, I wouldn't talk about basic math while you are asking me to accept basic magic:

Currency does not create wealth. Work does.

You still won't give a clear answer as to where Australian currency comes from, you just keep vaguely alluding to this mystical process whereby economic growth somehow finances itself. We all work some more and bingo!, we find that the economy has grown, more goods and services are being exchanged and that more currency is in circulation. Not that the growth in liquidity had anything to do with it of course, no the growth occurred first - more and more goods and services were exchanged with the same amount of money. Miraculously, this didn't run into any problems - the economy continued to grow while the amount of money that finances it remained the same. Or did it? I keep hearing about this thing called federal government that they say creates and issues the currency that facilitates the smooth exchange of the massively complex array of goods and services. Nah, must be a myth. We'll stick with economic growth magically financing itself all by itself. That's a nicer story.

And you still haven't given a response to the fact that for decades, all parties ran small deficits with no surplus budgets at all but we didn't get runanway inflation and a collapsing economy. We got very strong growth, very low unemployement (2.5% on average for decades) and relatively low inflation.

And there was some other third thing but I can't think of it right now.

[JW Frogen]

We need to be very worried about this debt - regardless of how you explain it away. By the way Lefty did you know that you are sounding more and more like Monk.

The lady is correct. This is a real debt; it will really have to be paid back either in tax revenue increased cost of money funding bond issues or a deflated currency.


Lefty's free fiat wild ride is not really the question, the real question is this, is the money borrowed from our future or off the value of our currency going to produce future productive gains that will offset the investment or even surpass it.

The short term stimulus probably will not, though it may have prevented a collapse in tax revenue had domestic consumer demand collapsed, but the real issue is what value will the infrastructure spending add to long term productivity?

[Leftofcentresalterego]

No Frogen, you are both wrong here.

And you continue to misrepresent what I've said about defict and debt.

And you continue to avoid answering the questions I've asked. I suppose denial works well for you.

[Jovial Monk]

Isn't Denial a river in Egypt?

[Jovial Monk]

The Westpac-Melbourne Institute index of consumer confidence, released this morning, rose a near-record 12.7 per cent in June to 100.1 points.

http://news.smh.com.au/breaking-news-bu ... -c2xn.html