If You Can Deliberately Restrain Federal Spending, You Can Deliberately Expand It

Anti-austerity is a word, of which, culturally and socially speaking, perhaps the Spartans wouldn’t have approved of. We can accept that. It was a Laconian thing. We wouldn’t understand anyway. However, it is also a word, economically-speaking, that many orthodox economists and politicians understand but outright refuse to accept. It’s a neoliberal thing. We cannot[…]

It’s Always a Good Time to ‘Blow Up’ the Deficit; Just Not How The Republican Party ‘Blows Up’ The Deficit

Since we had some technical difficulties last night – apparently, the Russians hacked us – we didn’t have time to address one of the main points to understanding deficit spending: You need a target for it to be immediately effective. So, let us address this topic presently. We recall from last night’s discussion on Real[…]

Fix the Debt – One Group’s Efforts to Cause an Economic Depression

Derp: (noun): Foolishness or stupidity. In the profession of economics, there’s a lot of derp. I mean, a lot of it. In fact, when it comes to economics, derp is everywhere. On TV, derp is there: from Fox Derp, Bloomderp, CNBDerp and Derp Dynasty, to MNSBDerp and Derp Maddow. Newspapers too, like The New York[…]

Junk Economics: A Brief Look at Mainstream Mysticism

Today’s article is a continuation of my last concerning the mainstream’s zero lower bound and loanable funds fantasies with a look at fiscal rules and other shenanigans. Fig. 1: A Mainstream Economist Coupled with the debunked Loanable Funds Theory is the mainstream assumption that the national government experiences a hard financial constraint and must fund its[…]

Australia – A Continent That’s Adrift but Salvageable

There’s a whole lot of stupid coming from the Australian government these days. This particular type of stupid isn’t your average stupid. It’s a maximum strength stupid that is produced when your average, run-of-the-mill stupid is no longer stupid enough to meet the needs of the Australian Treasurer. It is a sort of supernatural stupid.[…]