Thursday, November 3, 2011

Greenspan Suggested Cutting Taxes on the Wealthy to Increase Debt so the Fed Wouldn't "Lose Control of Monetary Policy"

MOST ECONOMISTS DON'T PAY ANY ATTENTION TO DEBT
As I noted in 2009:
Paul Krugman that debt is a “phantom menace”. But this is not because Krugman is a liberal. Government economists in the Reagan, Bush and Obama administrations have all believed pretty much the same thing: deficits don’t matter.
Indeed, as Steve Keen documents in his must-read book, Debunking Economics: The Naked Emperor Dethroned, mainstream (i.e. neo-classical) economists don't even take debt into consideration

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