James Galbraith: The danger posed by the deficit 'is zero'

Before you all reply to this article, you might want to look at other people's posts who have already replied in another forum (click here)

Zeitgeists mate?

Would be nice if he is Right. But I Doubt it.

Debt = savings.

Lol.

Up = down?

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that cuts in public services start with his post.

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

Originally posted by xpowderx

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

 

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

So now anyone who was a guest on Bill Moyers' show has no credibility? Really?

Originally posted by sif-lawd

Originally posted by xpowderx

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

 

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

So now anyone who was a guest on Bill Moyers' show has no credibility? Really?

You need to get with the program Sif. The left , libs and democrats have very little credibiliity right now! It took you this long just to realize it.! LOL, too funny! Not just of me Sif, but the majority of the U.S public.

Originally posted by xpowderx

Originally posted by sif-lawd

Originally posted by xpowderx

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

 

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

So now anyone who was a guest on Bill Moyers' show has no credibility? Really?

You need to get with the program Sif. The left , libs and democrats have very little credibiliity right now! It took you this long just to realize it.! LOL, too funny! Not just of me Sif, but the majority of the U.S public.

I will repeat.

Your comment made it appear that simply by being a guest on Bill Moyers' show, that Mr. Galbraith has lost credibility. Is that or is that not what you were saying?

Originally posted by sif-lawd

Originally posted by xpowderx

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

 

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

So now anyone who was a guest on Bill Moyers' show has no credibility? Really?

 I don't know who Bill Moyers is, but anybody who gives this Galbraith crank a platform to be taken seriously has no credability. Likewise those that employed him.

Must be some sort of circle of idiots all telling eachother how smart they are.

Originally posted by baff

Originally posted by sif-lawd

Originally posted by xpowderx

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

 

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

So now anyone who was a guest on Bill Moyers' show has no credibility? Really?

 I don't know who Bill Moyers is, but anybody who interviews this Galbraith crank has no credability.

Right.

Right.

Originally posted by xpowderx

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

 

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

Do you have multiple ! keys on your keyboard? Certainly you cannot purposely use that many in one paragraph.

Originally posted by Dekron

Originally posted by xpowderx

Originally posted by baff

Debt = savings.

Lol.

Up = down?

 

Hard to imagine that this bloke has a job. What a shit and desperate university Texas must be.

One can only hope that the cuts in public services start with his post.

A couple of economists are out there like James

! The majority though do not agree with him. He also has not been right lately!

 

LOL. he was on Bill Moyers! nuff said!

MSNBC has been toking the Crackpipe for a while now! Will probably ccontinue to do so!

Do you have multiple ! keys on your keyboard? Certainly you cannot purposely use that many in one paragraph.

A friend of a friend of mine on Facebook apparently has a stuck exclamation point key, since every sentence (even really mundane shit) ends with like six of them.

Ate a sandwich!!!!!! Now I'm going to the mall!!!!!

Deficit will lead to inflation. You will pay more, for everything, and you will not make more than the prices go up. 

If you're ok with that, then hey, no problem. 

But wages have gone down, so if you were a smart boy and saved all your money for the next recession, you can buy a load of bargains and employ people to do all those jobs you never could have afforded them to do in normal times.

I'm not just OK with, I've been counting on it.

It happens about every 10 or so years, so if you don't have a war chest ready this time round, start building one up for the next.

Stock's are cheap, property's cheap, labour's cheap.

Originally posted by baff

But wages have gone down, so if you were a smart boy and saved all your money for the next recession, you can buy a load of bargains and employ people to do all those jobs you never could have afforded them to do in normal times.

I'm not just OK with, I've been counting on it.

It happens about every 10 or so years, so if you don't have a war chest ready this time round, start building one up for the next.

Stock's are cheap, property's cheap, labour's cheap.

I agree. For those with money, opportunities abound. 

When has that ever not been true?

But it's not just people with money who can benefit. Everyone with debt benefits from inflation.

And for those without money or debts, it's a free lesson on how to get some. Now you know what to do, next recession you can buy yourself a mansion dirt cheap.

So yes, there is inflation and decreasing wages... but also there is inflation and decreasing wages!.

Under inflation the mortgage holders gain. The price of your house increases, but you are still paying the same rate.  Horay! Your house is magically paying itself off without you doing anything at all!

With lower wages you can employ more people. Horay! You can improve you standard of living or the value of your property or start a business that was previously going to be unprofitable.

It's all one big opportunity if you have the right mindset.

James Galbraith is a moron.   I really don't want to have to take a wheelbarrow of cash to buy bread.

I think he lacks practicality.  What happened in Greece?  They ran a deficit so large that eventually the interest on debt was larger then the government took in.  What happened in Germany?  They needed to repay debts for WW2, so instead of paying it off responsibly they pulled out the printing press and made their currency worthless.

The effects of what he is proposing doesn't really hurt bankers and economists like him since they are gaining funds at the rate of inflation.  It hurts people who are holding dollars which happens when people try to gain the capital to open a business or buy a home.

Although inflation makes the value of debt lower, it also promotes going into debt instead of proper savings.  It also lowers the faith other countries have in the dollar as a reserve currency.  Eventually inflation will lead to a crash of a currency.  I think its very basic.

LMAO! Hope has lead to madness.

 I can hope really hard too..  Too bad this guy is INSANE.

 Take note from Argentina.. this ISN'T a good thing. Sure, you can pay off your house easier.. but then you have to protect it from the angry starving mobs that will kill you for food.  Wish I was kidding.

Stories from Post-Collapse Argentina

Surviving in Argentina