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Quantitative Easing Explained

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My reaction to videos like this is always ambivalent. The author can counter most objections behind the fact that this is primarily about humor. It is the Jon Stewart approach. Good thinking does not get done this way. Instead this type of material acts as fuel to the more populist versions of the argument. The consequences of a so-called "deflationary cycle" are very real, and they include deeper unemployment. lower home prices, more bankruptcies, less cops, firemen and teachers in most cities. One can argue that the term "deflation" should not be used for a normal and healthy process of liquidation, but assigning the proper term does not change the essence of the concept that modern economists identify with the wrong term.

I wonder if the million people who viewed the video and the bulk of tea-partiers (outside the more intellectual core) are really willing to live through some years of austerity, with all that means? If not, the intellectuals pushing for less government involvement have a tiger by the tail, promising something on which they cannot deliver.

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We're doomed, anyways, ...
I'm grateful Thomas Paine, George Washington -- and even Ronald Reagan -- never thought this way.

Added: I grant that I laughed at parts of that video. As I said, I'm ambivalent about it.

Edited by softwareNerd
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I see that

is so blatantly filled with strawmen that it makes the above videos seem like high-intellectual discourse in comparison.

I've tended to find that true of all lefties I encounter of late. I remember back in the days when they at least attempted some reasonable debate on issues.

Everything I've seen and heard lately breaks down to:

1)if you disagree with us you're a racist (even when the topic has nothing to do with race)

2)you're also homophobic (even when the issue has nothing to do with gays)

3)greedy corporations greedy corporations greedy corporations

4) nah-uuuhhhhhh (in petulant 4 year old voice) foot stamp optional

What it breaks down to in my mind is that the forms of economic and social collectivism are in many ways like religion. There's indoctrination, there's blind faith, there's the belief that one must not only subjugate oneself to a higher authority but that once one has done so one has the right-nay-the obligation to subjugate others that will not come along voluntarily.

Their blind faith, uneducated arguments for collectivism are almost indistinguishable from the kinds of arguments I use to have with the religious right types.

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