Deserves more savagery then PK seems willing to unleash here
"The us too" act over
forward expectations deserves a separate barrage
---see upcoming posts ---
But K schlock type's ought to note also:
the spending impact of transfer payments nullified
The fed anointed and empowered like jehovah himself
Defense spending implicitly turbo charged
Taxing at the upper margins stifling growth
Ya I could taunt the NK club
for harboring a model
That can be so easily turned against itself like this
imagine
sticky prices ...ultimately sticky wages
are all that keeps
the new classicals counter revolution
at bay
And.......
gee gang ...
on the level of morbid glee
Pk on Taylor and tax cuts is interesting .....no ?
though PK acts like the rich are consumers too
just like the poor
even if
maybe of yatchs champagne silk hats and mansions
rather then ripple
pork and beans
and yet
sez PK
"there is some evidence thatt the rich persistently consume less of their income than the poor."
Pk on Taylor and tax cuts is interesting .....no ?
though PK acts like the rich are consumers too
just like the poor
even if
maybe of yatchs champagne silk hats and mansions
rather then ripple
pork and beans
and yet
sez PK
"there is some evidence thatt the rich persistently consume less of their income than the poor."
thus
cutting the impending payments
"on and for " the poor
To reduce taxes on the rich
Will lead to less "aggregate spending "
because the rich "over save "
our Taylor sees the rich quite differently
he seees them as investors
yes investors and in productivity enhancing
state of the art
production facilities
whereas the poor
hell they are just "too much with us"
And besides they need nothing getting a job
can't provide anyway
leave em to job search tomorrow
and in the goodness of time they'll find a position
and thrust themselves that much closer
To Calvinist heaven
aka human bee hivery
------------------------------
Why we watch these two sword playing
Escapes me some times
cutting the impending payments
"on and for " the poor
To reduce taxes on the rich
Will lead to less "aggregate spending "
because the rich "over save "
our Taylor sees the rich quite differently
he seees them as investors
yes investors and in productivity enhancing
state of the art
production facilities
whereas the poor
hell they are just "too much with us"
And besides they need nothing getting a job
can't provide anyway
leave em to job search tomorrow
and in the goodness of time they'll find a position
and thrust themselves that much closer
To Calvinist heaven
aka human bee hivery
------------------------------
Why we watch these two sword playing
Escapes me some times
... side bar:
When the sticky wage and the lower policy rate bound
Carry the weight of culpability
For a completely irrational system
a system
That can't Bring back even its tainted notion of full mobilization of it's existing production capacity
its been
Fully 4 years
since a generation of unsoundly founded economic development
blew it's own head off
Zero bounds and
Sticky wages indeed