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Recent content by JohnfrmClevelan

  1. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    (cont.) I just don't see that happening in reality. Too much unemployment and underemployment to believe that labor is one of those resources. And what else are we running short of, to the point where prices are rising because of too much demand? I just don't see government spending...
  2. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    I question whether it really is using up resources that would otherwise be used. It's bird in the hand; at least with pork, something gets built for sure, and people get paid. I agree that pulling workers away from real projects isn't good, but I just don't think that's happening. Not since...
  3. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Even pork is commerce, though. I also get comparative advantage, and I don't think that output would be the same in something closer to autarky. It's simply a question of the dollars, used to buy imports, not coming back into the U.S. economy to buy goods. Buying "dollar denominated assets"...
  4. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Of all people, you shouldn't be the one demanding proof. All of your posts are just a series of declaratory statements, and most of what you say runs completely counter to what most people can agree on.
  5. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    It's not unfeasible at all. A lot of the government spending I'm talking about would be tied to automatic stabilizers. A job guarantee, for example, increases govt. spending when unemployment is high, and comes back down as the private sector rehires labor. I understand this. Nobody is...
  6. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Sure, there is. When there is too much economic activity, the govt. should adjust its spending. But that's not realistic under our normal circumstances (large trade deficit and large net savings from income). You are going to have a hard time convincing me that crowding out is a thing...
  7. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    A sales tax used to "pay off" the national debt amounts to this: the govt. takes more dollars out of the active economy (consumption), and gives it to rich bondholders; or, it uses the tax revenues for spending so fewer bonds need to be issued in the future (depending on your understanding of...
  8. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Actually, I have a pretty good handle on it. I study this stuff quite a bit. Again, you are just making stuff up, with nothing to back up your claims. Look at the data. Debt does not cause inflation. See Japan. Really? High debt pushes down interest rates? Find me two economists that...
  9. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    If you don't have anything to say, outside of just being argumentative, tell me now so I can ignore your posts in the future, thanks. We have a $20 trillion economy (or we did, until recently). It's capable of growing a reasonable amount. It's not capable of instantly doubling. Per capita...
  10. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    I didn't. But giving everybody $100K would certainly swamp the economy.
  11. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Do you even bother to read the thread before you jump in? More demand than the economy can handle leads to inflation. AOC would know that much.
  12. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Not true. I explained how it works, and try as you may, you won't be able to link govt. deficit spending to your taxes. There are lots of reasons why prices tend to go up. The money supply is not one of them. Increases in the money supply generally happen to boost investment and/or...
  13. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Not at all. I endorse "trickle up," which is the way money naturally flows anyway. In either case, the govt can, and does, create and spend its own money. It needs no help from anybody to do so, and it certainly doesn't borrow its own currency in any reasonable sense of the word.
  14. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    You aren't paying for anything. We don't pay for deficit spending. The govt. creates its own money and spends it. Even when they issue bonds, the money is spent right back into the economy, and bondholders have the bonds they wanted. Who loses there? Nobody.
  15. JohnfrmClevelan

    Government Workers are Next for layoffs & furloughs

    Govt. "debt" does not need to be paid off. Govt. debt is just financial assets in the hands of the private sector, bonds and dollars. Reducing govt. liabilities just pulls dollars out of the active economy, and that would be a disaster.
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