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Sat Feb 2, 2013, 10:31 AM

"Financial reform for a sustainable economy," Michael Kumhof

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Reply "Financial reform for a sustainable economy," Michael Kumhof (Original post)
Wernothelpless Feb 2013 OP
fasttense Feb 2013 #1
plethoro Feb 2013 #2
miamipilot Feb 2013 #3
Wernothelpless Feb 2013 #4

Response to Wernothelpless (Original post)

Sat Feb 2, 2013, 10:47 AM

1. Not another Milton Friedman lover

I thought this would be about a different kind of economics. Not the same old Chicago school Pinochet's Chile economic crap.

We lived through Milton's economic paradise and look how absolutely awful it all was.

Same BS dressed up with fancy words. It's just trickle down, voodoo economics, a tool for the uber rich to plunder the middle class. And a few insults thrown to Krugman too.

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Response to Wernothelpless (Original post)

Sat Feb 2, 2013, 11:19 AM

2. I listened to this for as long as I could...I'll never

 

get that time back.

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Response to Wernothelpless (Original post)

Sat Feb 2, 2013, 01:10 PM

3. "No..No.."...A Careful Distinction Must be Made Here...

This presentation has nothing to do with the University of Chicago’s Milton Friedman’s invisible hand economic theory (although its shares a similar name). This represents an interesting innovative plan to vanquish the current “opaque” monopoly that the U.S. Federal Reserve Banking system enjoys over our money supply (through the famously flawed fractional reserve banking approach). The Federal Reserve is a “so-called” government entity that operates secretly under true control of the power elites (with little oversight or public scrutiny). It's some fresh thinking about a badly flawed system that continues to be controlled by the power elites and is ultimately destined to collapse.

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Response to miamipilot (Reply #3)

Sat Feb 2, 2013, 01:17 PM

4. Chalkie: Making money dance to a new tune

"What's new in the Kumhof and Benes paper is their application of modern economic modelling to the Chicago School's theory, using what they describe as a "state-of-the-art monetary dynamic stochastic general equilibrium (DSGE)" model of the United States economy.

The results, they say, strongly support the benefits theorized by the Chicago School all those years ago, "with the potential for much smoother business cycles, no possibility of bank runs, a large reduction of debt levels across the economy, and a replacement of that debt by debt-free government-issued money". "

http://www.stuff.co.nz/business/opinion-analysis/8210098/Chalkie-Making-money-dance-to-a-new-tune

Precisely, miamipilot ... It's an idea ... and as open-minded free thinkers we are all for ideas ... are we not? ...

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