We will not solve the debt issue during this generation

posted by
January 8, 2012
Free Advice
by Robert P. Murphy  
Posted in Commentary

"A lot of you keep saying, 'Deficits are functionally equivalent to taxation.' Yes, you're right, in the sense that I could come up with a complicated scheme with no deficits (involving redistributive taxation in periods 1 through 8 ) to mimic my second scenario above. But in the real world, it is not at all true that 'deficits are equivalent to tax-financed schemes.'" (01/07/12)

http://bit.ly/yZnciJ  

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  • Not being a PHD economist, I didn't read much of this… but what I did read sounds like a lot of hooey to me.

    This sounds right instead.
    The Collapse of Our Corrupt, Predatory, Pathological Financial System Is Necessary and Positive
    By Charles Hugh Smith http://www.oftwominds.com/blognov11/collapse-of-c

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