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JackRiddler » Thu Apr 18, 2024 9:27 am wrote:Did not in any way use "that's a right-wing talking point" as his argument.
Rather, he refuted the stupid argument (the misattribution to "gummint spending" of what neoliberal and libertarian economics have wrought upon the people) and in the process also correctly identified said stupid argument as coming, in this case, from a class-war think-tank funded by right-wing money. That would be the real class war, the one on the working class and everyone else outside the 1% and their personal service professionals, which started its ongoing long offensive somewhere right around... oh look at that, 1971!
Belligerent Savant wrote:Problem with capitalism is
Elvis » Thu Apr 18, 2024 2:44 am wrote:The charts & graphs are useful & informative, but they do not tell the story of "what happened" as the website imagines.
The last three weeks have been remarkable ... why ... leading economic figures have come out and said the narratives pushed in Econ classes and policies pushed by orthodox economists for the last 40+ years have been wrong ...
This started with Nobel prize winner Angus Deaton observing the Economics profession not only didn't predict the Great Financial Crisis but contributed to its occurring.
It went on with Janet Yellen observing the Economics profession cheered the idea of saying Thank You for cheap goods without understanding the "cost" of these goods was outsourcing your industrial base and making yourself dependent on another country that might not have your best interests at heart.
And then it culminated in Mario Draghi linking both of these together and observing this also undermined society.
In effect, these three individuals have said "Economists you screwed up so badly you need to shut-up for a long period of time while we figure out and implement policies to recover from your policy recommendations"
SonicG » Fri Apr 19, 2024 7:02 am wrote:"That escalated quickly."Elvis » Thu Apr 18, 2024 2:44 am wrote:The charts & graphs are useful & informative, but they do not tell the story of "what happened" as the website imagines.
I didn't realize that it was a "right-wing" site...I am more interested in the rise of the USD in dominating the world economy and the current move to overcome/overturn that hegemony, create a multipolar world, something that might no necessarily be orthodox left or right.
Speaking of economic orthodoxy:The last three weeks have been remarkable ... why ... leading economic figures have come out and said the narratives pushed in Econ classes and policies pushed by orthodox economists for the last 40+ years have been wrong ...
This started with Nobel prize winner Angus Deaton observing the Economics profession not only didn't predict the Great Financial Crisis but contributed to its occurring.
It went on with Janet Yellen observing the Economics profession cheered the idea of saying Thank You for cheap goods without understanding the "cost" of these goods was outsourcing your industrial base and making yourself dependent on another country that might not have your best interests at heart.
And then it culminated in Mario Draghi linking both of these together and observing this also undermined society.
In effect, these three individuals have said "Economists you screwed up so badly you need to shut-up for a long period of time while we figure out and implement policies to recover from your policy recommendations"
https://twitter.com/tyillc/status/1780665317854769597
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