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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Terry Maloney who wrote (415743)	6/26/2011 8:40:24 PM
From: maceng2	Read Replies (2) \| Respond to of 436258

Sounds to me like he's advocating just inflating the debt away Continuing with the Warren Mosler line of thinking, the current idea of getting back to prosperity looks like a loser. i.e. Everyone is skint so lets lower wages more till they are the same as Chinese workers and use any savings generated to pay off debt. Steve Keen of "Debunking Economics" fame thinks we need to take the inflation route also. He was recently interviewed on the Keiser report and his view is eloquently espoused starting at about minute 14 through to minute 22 of this broadcast (number 157) i.e The exact opposite has to happen regarding wages, they should increase, until the private debt generated by the kleptocrat banksters is at least balanced by real wage earned money circulating in the economy. rt.com In short, the only antidote (apart from bullets) to criminal kleptocrat banksters is Keynesian Socialist Union workers. One begets the other. Sure it's not an ideal solution, but it wasn't the working population who started this frigging problem. Looks about right to me. If you can quietly push an ounce or two of gold and silver somewhere safe as the process unfolds, so much the better I think. There are also other precious metals out there like palladium that can be used to broaden the number of ways that wealth can be stored, lessening the political risk of confiscation. So, the answer seems to be, go strike for higher wagers so the economy can be fixed... Leaders warn strike defeat could break unions. ft.com -lol- they wish. youtube.com