Monday, June 30, 2014
Paul K and Simple Simon.... and the NK dementia praecox
Macro Monetarism first
As a means to mobilization or better re mobilization
Of idle production factors
Is capitulation to corporate board room sponsored think tank strategeery
But on it's own terms it's proven as bankrupt as Samuelson tobin macronomics
Look at 1951 to 1979....... 28 years
Now look at
1983 to 2009 ....26 years
Two epochs that led to debacle
The first caused a revulsion from the prevailing policy paradigm
Look at the second epoch
Where's the revulsion now ?
Imagine any mobilization utilization macro strategy
That even if
Implemented under low initial household debt ratio conditions
led in about twenty five or thirty years to an utter flummox like 2009
Why would you advocate such a policy even in the first twenty years of the interval ?
knowing spirits oughta now cancel the monetary first macro policy
We attach to that drip of snot called NK macro
right out of the starting blocks