You hit the nail on the head- no intellectual effort-no reward in understanding the complexities of today's world. The biggest problem is how easily these less well read individuals can be persuaded. Most people do not even have a framework for the arguments, they either do not care to put in the effort or lack the basic skills necessary for accumulation of the facts.
Are Greece pitchforks more technologically advanced than German pitchforks, are Italian shovel's and axe's better than the same in France?
Could you please describe MMT with the interpretation and workings within a Failed Banking Institution circa 2008 and it's subsequent takeover by the FDIC . What happens or should happen with the money/ loans that now have been re-distributed to a non-bank (/Lennar) for collection for all or some portion of the loan based on a personal guarantee's, even though (/Lennar) only put up .08 on the loan dollar value and the FDIC put up or guaranteed .20 on the loan dollar value and precluded any opportunity for other parties in participation.. Additionally the FDIC gave this .20 dollar advance on a 0 interest no recourse , 7 basis year program. Does MMT have any definitional standing in this above proposed transaction?
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Could you please describe MMT in the interpretation and workings of a Failed Banking Institution 2008 and it's takeover by the FDIC . What happens or should happen with the money/ loans that now have been re-distributed to a non-bank (Rialto/Lennar) for collection for all or some portion of the loan based on a personal guarantee's, even though (Rialto /Lennar) only put up .08 on the loan dollar value and the FDIC put up or guaranteed .20 on the loan dollar value and precluded any opportunity for other parties in participation.. Additionally the FDIC gave this .20 dollar advance on a 0 interest no recourse , 7 basis year program. Does MMT have any definitional standing in this above proposed transaction?
Why not try to introduce a bi partisan proposal of a double down(2x) on the interest mortgage deduction all the way up to 2 million in mortgage loan amounts for qualified buyers for 5years.
Solves problem A (housing stock) and( Tax break ) problem B.
So balanced global growth ,embodied by the previous gradual employment shift east and the requisite demand for the grand experiment of the future capitalist global business utopia may require a recession/depression in the current definition of developed countries that could be 50 years in the making?
Dr. Reich, I need the details of the bankruptcy process you briefly discussed on ABC. I need to know how it would work in those approximately 75 million homeowners that need to push a reset button on their wealth status or lack there of?
In my opinion the bankruptcy card was played already for the big banks and those who were not long in real estate by Paulson in the "too big to fail" program. The economy in general was saved by taxpayers , the FDIC,Tarp ,stimulus etc. They all got bailed or waived possible bankruptcy for everyone. Those long in real estate well ,you know where we are!
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Invention