Signifyin(g)Monkey Posted July 21, 2023 Share Posted July 21, 2023 Remember that I’ve been on record supporting mass debt forgiveness for both individuals and businesses since 2008, arguing that what has been weighing the economy down has been excessive private debt siphoning their spending power into interest payments, and away from investment and the purchase of goods and services—which is the basis of, um, economic growth. The establishment hacks over at Barron’s now admit I was right, (begrudgingly and indirectly, of course): Op-Ed: Americans Have Quietly Deleveraged. It May Explain the Economy's Resilience. WWW.BARRONS.COM If the Federal Reserve has pulled off a soft landing, it may be due to shifts in the composition of U.S. debt since 2008, writes Larry Hatheway. Basically the COVID stimulus carried out my policy in a clunky, inefficient way. Make me benevolent dictator for life, people. (Oh and none of my ideas were borrowed from heterodox economists of unappreciated genius, I swear) 1 1 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted July 21, 2023 Share Posted July 21, 2023 The burden of being correct is a cross that I, too, must bear. 1 1 Quote Link to comment Share on other sites More sharing options...
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