The Market Has Spoken: Austerity Is Bad for Business

[Carol]

link[URL="http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1693560"]

kpete Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Mon Aug-08-11 06:10 PM
Original message
The Market Has Spoken: Austerity Is Bad for Business

now, who is listening?

(chart not included here, but is at the DU site )

It used to be that when the Fed Chairman spoke, the market listened; but the Chairman has lost his mystique. Now when the market speaks, politicians listen. Hopefully they heard what the market just said: government cutbacks are bad for business. The government needs to spend more, not less. Fortunately, there are viable ways to do this while still balancing the budget.
http://www.opednews.com/articles/The-Market-Has-Spoken-Aus-by-Ellen-Brown-110807-617.html

Liberals are so threatened by budget cuts that they claim that what we are doing now is "austerity", and that business is bad because the government supposedly isn't spending as much money as they want.

They're either delusional or so addicted to "free money" that they won't see the truth.

[malloc]

I wonder if these complete morons even know that we are way off the grid in territory only charted by Austrians who've used this mental exercise of excessive public spending of inflated bills, to poke holes in what Keynesianism had become. Even Keynes spoke against deficit spending going too far, and cautioned governments to build up surpluses during strong times in order to "stimulate" the bad times.

Of course these idiots don't even really know what Keynesian or MMT is, and don't read anything other than HuffPo, so it's kind of like watching pig farmers trying to piece together the space shuttle.

<No offense, Rock>

[Constitutionally Speaking]

I'd like to know on what planet spending $8 Trillion more than we are today is considered austerity.

[Big Guy]

Oh, I get it, if I'm broke just spend MORE money. How stupid of me, man those dimocrats are sooooo much smarter than everyone else.