A government trying to balance its books in a time of inflation shows it just doesn’t understand its economy. That economy needs more money to keep functioning because prices are going up. Balancing the books tries to reduce the money available. That can only end badly.
Where in hell does he get these ideas from? Inflation is the time to print more money? To run larger deficits – because government spends money into existence?
Tim
Don’t forget he walked out of his undergrad economics course in the first term. He dismisses classical economics as ‘wrong’ because certain models don’t match reality. He is the most idiotic commentator extant in cyberspace today. Who knows where he gets his ideas from? All we need to know is they are self – evidently false and if followed (and BiS would say a lot of them have been followed!) they will lead to unbridled misery and the death of hundreds of millions , as we are seeing now.
I think he gets his ideas from Weimar Germany. They thought there wasn’t enough money because it was all going to France in reparations.
“Inflation is always and everywhere a disease of Murphy.” (Milton Friedman, more or less)
“Where in hell does he get these ideas from?” He summons them from the vasty deep.
Dearieme
..if so, it’s a bit unnerving that they come when he summons them…
Spud’s answer to any political or economic question is invariably more tax and/or more money-printing.
In his dream world, he sees himself as the Newton and Einstein of economics. He imagines he has unique insight into economics.
BlokeinTejas: well played, sir.
dearieme said:
““Where in hell does he get these ideas from?” He summons them from the vasty deep.”
indeed; a polite way of saying he pulls them out of his arse.
I guess the banks needed to plant more money trees earlier in the season, huh?
Well, why crash the economy when you can crash the economy with the (metaphorical) equivalents of explosions, flames, and chaos? Future historians will no doubt be entertained – not so much us who have to live through it.
Speaking of which, i wonder if I can find my ‘WIN’ button from the Ford administration:
Whip
Inflation
Now