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Politics : View from the Center and Left

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To: Steve Lokness who wrote (211044)	12/9/2012 5:23:54 PM
From: neolib	4 Recommendations Read Replies (2) of 541740

The period we are in now (+/- a decade) is going to provide a lot of raw material for economics research in the future. IMHO much of the discussion about debt and its utility fails to consider the frequency components. Keynes was advocating the use of debt with a different spectrum (higher frequency) than what our politicians have tended towards (low frequency). I think Krugman is correct is saying now is not the wisest time for focusing on debt reduction. The irony of it all is that the right/tea party is currently quite focused that way now (at exactly the wrong time) while the same individuals were highly opposed to correcting the debt issue in the waning-Clinton (and start of Bush years) which would have been the correct time. More on the left favored debt reduction in the late Clinton years while being more supportive of debt expansion now. This is correct AFAIK. It pays to get the phase correct. Get the phase 180 deg out and things fall apart.

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