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Does stimulus work? Marshall Auerback on Deficit Hysteria
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arghh…..nothing worse than watching a debate between two people who come into the debate with two completely different objectives…Auerback on the one to fight for MMT and the other arguing why gold is a good hedge based on macroeconomic policy. It's really uncertain what the point of the show was…
Nice work getting him to admit he really didn't have a leg to stand on but opinion, Marshall. I wonder, was it a coincidence that the announcer gave the other guy the first and last shot to push gold?
P,He wasn't really truly prepared, but the problem is that these guys always make ridiculous statements, which are repeated as fact by every single mainstream publication. So they get a free pass all of the time and when they are confronted with economic logic that refutes the myth, they usually don't have an answer (which is one of the reasons I think our MMT posts in various blogs usually get hit with a torrent of abuse. So be it. Tom, many had the same reaction as you. Someone asked me if BNN worked for the "Canadian Bullion Association"! :)When in doubt, they usually retreat to gold. They think it's a cure for cancer, world peace, etc. If only!