Kicking the Can While Riding a Tiger

[Fiat Currency]

Gary North's latest ...

Kicking the Can While Riding a Tiger

It has become clear to millions of voters around the world that their national governments have not offered statistically viable solutions to the looming budget deficits. These deficits threaten to consume more than the future revenues available to the various national governments to fulfill their long-term promises and welfare programs for oldsters.

Central bankers can call this to a halt at any time by ceasing to purchase assets. This would stabilize the monetary base, at least until banks started failing, thereby contracting M1. This would produce a depression. Politicians say they want solutions to the budget deficit problem, but the political price is the replacement of incumbents by newly elected politicians who campaigned on a call for an end to the depression.
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[Spartacus]

Re: Kicking the Can While Riding a Tiger

GN has not had a new thought in 30 years AFAICT. His career's based on the fact that he just sometimes writes well

AND he has an ax to grind, so please read him with one foot pointed to the exit.

He just recently started writing about the FIRE economy, 3 to 4 years after iTulip.

In the last 3 years he's swung from a lifelong inflationist to a deflationist back to inflationist.

Gary North's latest ...

It has become clear to millions of voters around the world that their national governments have not offered statistically viable solutions to the looming budget deficits

there aren't millions who understand even basic statistics (even those who studied stats in school probably forgot 90% of it within a month of graduating), there aren't millions who understand the budget deficit thing[*], and the union of the 2 groups is probably vanishingly small

so very, very wrong ... in just the 1st sentence.

[*] although GN and several Lew Rockwell types love to write how, in a democracy, "the people" have an incentive to vote for more services and lower taxes. It seems GN & the LR crew love to have their cake (accuse "the people" of theft, and make democracy a RICO violation) and eat it too (claim "the people" don't understand or know what they're doing).

[vinoveri]

Re: Kicking the Can While Riding a Tiger

GN has not had a new thought in 30 years AFAICT.
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AND he has an ax to grind, so please read him with one foot pointed to the exit.

That some assertion! Sounds reasonable to me ...:rolleyes::p

Sounds like you too have an ax to grind ... against GN, LR, ...?


I for one like reading Gary North, and Lew Rockwell, and mises.org; they have something to say, it's principled, and consistent, AND it's unwavering in its ANTI-STATISTs tone and posistions. Even though I may frequently not agree with them, I'm sure glad there are voices like these who are outspoken in the face of the propaganda bullhorn of public education, MSM, duped citizens, etc. regarding the benevolence of our government and virtue of our leaders, that it takes a village, kumbaya, blah, blah blah ... bullS...