Instant Karma: mark-to-market

(10 am. – promoted by ek hornbeck)

Yale economists stress need for more US govt. spending.  

Why?

They talk about “stimulus,” “infrastructure,” “shovel-ready jobs,” spurring inflation,” “loan forgiveness,” tax cuts, and so on.  

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Do they even know what the problem is that they are trying to address?   Or are they just yammering out of habit?

For example:

Have the banks’ assets been valued through mark-to-market accounting?  No.

Do the economists know if the banks are even solvent?  No.

Do they know the counterparty risk between banks worldwide?  No.

Considering everyone may be insolvent, do they know if the govt has any money to spend?  No.

And yet, they make strenuous recommendations, many less-than-strenuous based on potential possibilities.  I am neither Austrian nor Keynesian, whoever the fuck they are.  If I were an economist, I’d want the facts, up front, before I delivered opinions or made recommendations.  

Many heedless, antero-grade amnesiacs say, “More better Democrats are needed!”

Woof.