by Summary:
One of Bill's best titles. Maybe "unicorns" would be better than ponies though. It's fantasy all the way with them. Last week (February 8, 2018), we witnessed the US Senate spectacle with Rand Paul embarrassing himself with his lack of economic knowledge but also embarrassing both major parties – the Republicans for their gross hypocrisy and the Democrats for their gross idiocy. The – Congressional Record – of Paul’s speech (starting S817) is a classic. Also, last week, the stables were stirring apparently, as the ‘bond vigilantes’ were strapping on their saddles and getting ready to make the US government suffer for its so-called fiscal ‘ill discipline’. These characters apparently emerge out of the darkness of fiscal profligacy to defend our interests and force the government to run
Topics:
Mike Norman considers the following as important: bond vigilantes, debt phobia, deficit hysteria, PAYGO, Rand Paul
This could be interesting, too:
One of Bill's best titles. Maybe "unicorns" would be better than ponies though. It's fantasy all the way with them. Last week (February 8, 2018), we witnessed the US Senate spectacle with Rand Paul embarrassing himself with his lack of economic knowledge but also embarrassing both major parties – the Republicans for their gross hypocrisy and the Democrats for their gross idiocy. The – Congressional Record – of Paul’s speech (starting S817) is a classic. Also, last week, the stables were stirring apparently, as the ‘bond vigilantes’ were strapping on their saddles and getting ready to make the US government suffer for its so-called fiscal ‘ill discipline’. These characters apparently emerge out of the darkness of fiscal profligacy to defend our interests and force the government to run
Topics:
Mike Norman considers the following as important: bond vigilantes, debt phobia, deficit hysteria, PAYGO, Rand Paul
This could be interesting, too:
Mike Norman writes My new podcast episode is out.
run75441 writes Quote of the Day – “very, very Concerned”
Mike Norman writes Pete Buttigieg and the Myth of Deficit Responsibility — Luke Darby
Mike Norman writes Pete Buttigieg’s Vow to Cut the Deficit Is Fiscally Irresponsible — Eric Levitz
Last week (February 8, 2018), we witnessed the US Senate spectacle with Rand Paul embarrassing himself with his lack of economic knowledge but also embarrassing both major parties – the Republicans for their gross hypocrisy and the Democrats for their gross idiocy. The – Congressional Record – of Paul’s speech (starting S817) is a classic. Also, last week, the stables were stirring apparently, as the ‘bond vigilantes’ were strapping on their saddles and getting ready to make the US government suffer for its so-called fiscal ‘ill discipline’. These characters apparently emerge out of the darkness of fiscal profligacy to defend our interests and force the government to run surpluses. Fantasy stuff all round. In fact, Rand Paul should resign and get a job he is more suited for (which would be?) and the bond vigilantes should make sure their Shetland ponies are not to wild for them. These bond traders play this elaborate game of bluff and pretend they have the power over the government. In fact, they are mendicants queuing up for their daily dollop of corporate welfare and the government could play them out of the game anytime it chose to. The problem is that the bluff works because governments are captive to the neoliberal nonsense that my professsion preaches.Amazing that anyone still believes the "bond vigilante" nonsense after "Bond king" Bill Gross was ignominiously humbled.
Bill Mitchell – billy blog
The bond vigilantes saddle up their Shetland ponies – apparently
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia