Reading pgl is like reading a graphic novel about a vamp hire slayer Fun but wonderlandish There is no constraint on nominal deficits No real fiscal restraint Its A suckers game comrades ! A way to twart kaleckism Lernerism Vickeryism Short or long term no nominal constraints And what else is PGL jiggering around about here ? Macro science long since demolished these fiscal budget based bugaboos That twist PGL into a five and a half foot pretzel The growths man in PGL With his concern about Social capital flows into the production system Ends up As pro corporate as his whipping boys the borax baring supply side mule team ReplyWednesday, January 14, 2015 at 12:48 PM pgl said in reply to Owen Paine ... Owen - start a blog. Contribute something to the debate. And don't do a Greg Mankiw by closing it to comments like he did. But be prepared for unwarranted attacks to your contributions (sort of like the one you just launched). ReplyWednesday, January 14, 2015 at 12:51 PM Owen Paine said in reply to pgl... I have a blog But it's closed to public view For obvious reasons It's a log of my discoveries and rediscoveries No not yet Laid out in formal detail But my conclusions are so boundary violating So world disrupting It's like doctor frankensteins lab notes Soooooo I must dose it out here in brief squibs ReplyWednesday, January 14, 2015 at 01:05 PM pgl said in reply to Owen Paine ... "But it's closed to public view - For obvious reasons" Obvious? Cause you're more cowardly than even Mankiw? I noticed that you did not have the dignity to post your garbage over at Econospeak. I guess you don't post your attacks on other economist bloggers directly over at their blogs either. Coward. ReplyWednesday, January 14, 2015 at 02:26 PM Owen Paine said in reply to pgl... Coward sounds a bit grand Falstaffian ? Indeed I embrace that pose But this is not combat ..no ? Try to stick to substance Here Even if I japed it up some We groundlings have no access to above the fold at well visited sites in blog land As to why I don't often comment at home sites I really restrict my self to this site I have an over generous host here I greatly admire A few sympathetic readers Why travel ? To seek failure Comforts is not cowardice is it ! I've received attacks here I wish there were more Particularly substantive ones that didn't side step the relevant points Even the venerable snowplow ski Seemed trapped by his stolid support for the MM agenda You your self usually abandon exchanges when a topic requires more then a few blasts of the war trumpet Or the parlor kazoo This topic Fiscal constraints has always divided us We once got to the point where you whipped out Sargent Or was it's Sims ? At any rate J m mason has conducted some nice exchanges at his site on this finite fiscal space gig And I really haven't seen any knock downs let alone knock outs delivered To the no fiscal constraint thesis Once we clear away the elaborate thicket of constraining assumptions Placed a priority on a sovereign state with it's own currency Which btw it ought to Institute tout for e if it lacks one ReplyWednesday, January 14, 2015 at 02:41 PM Larry Signor said in reply to pgl... pgl, Your point was well made. Owen is a troll and a jerk with an overly developed sense of self importance, or more probably, smoking something he should have left alone. ReplyWednesday, January 14, 2015 at 10:57 PM Owen Paine said in reply to Larry Signor... Guilty on both counts ! My brand? Troll twigs ReplyThursday, January 15, 2015 at 06:05 AM Owen Paine said in reply to Owen Paine ... He will miss or miss construe my constructive criticism I'm sure He is pro job class But he fears inflation And the way to control debt burdens involves the skilled use of wage and price inflation He fears it like one of our naked ape ancestors feared it before we learned to control it ReplyWednesday, January 14, 2015 at 12:53 PM Owen Paine said in reply to Owen Paine ... Pgl stopped discovering new models some where back When dear Elvis was still Splitting his pants on stage out there in lost wages Nevada Since then he's known everything worth knowing and rejected everything else In a polemic He's like a good friend that you'd let loose on your worst enemy Relentless and ally wise enough He can defend the truths he knows with fire and claw And to me hes lovable for that But hey there are positive lessons to propagate ReplyWednesday, January 14, 2015 at 01:00 PM Owen Paine said in reply to Owen Paine ... There is no debate on fiscal activism It was all settled long ago At least by 1946 Since then we have seen much refinement And some further proposals for socially constructible macronautic mechanisms Particularly in the area of output price level regulation Unfortunately we have also seen 60 years plus of corporate sponsored obfuscation dis information Public focal diversion Mass knee jerk Superstition mongering And of course self elaborating OZ- o - nomics ReplyWednesday, January 14, 2015 at 01:14 PM Owen Paine said in reply to Owen Paine ... The road not just untraveled but unbuilt That leads from here to the new jerusalem is simply mapped But hard as hell itself to build However To fail to shake this road map in peoples faces Would be to betray a greater truth In the name of immediate meliorism Short run policy that has no connection to long run reformation Is feeding the livestock outside the slaughter house ReplyWednesday, January 14, 2015 at 01:20 PM Owen Paine said in reply to Owen Paine ... And to cry This is all the loaves and fishes we can get for you Right now When it plainly isn't. ...... I find that mighty hard to get behind ReplyWednesday, January 14, 2015 at 01:22 PM pgl said in reply to Owen Paine ... "It was all settled long ago - At least by 1946" Settled before Elvis? It is you who stopped thinking decades ago - not me. Thanks for clarifying this. ReplyWednesday, January 14, 2015 at 02:31 PM Owen Paine said in reply to