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mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

Mathematically Perfected Economy™ FORUMS, DISCUSSION

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 Post subject: Krugman vs Greenbackers
PostPosted: 18 Jul 2010, 9:00 pm 
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Joined: 21 Aug 2009, 8:01 pm
Posts: 90
Economist Jamie K. Galbraith recently said:
Quote:
So long as U.S. banks are required to accept U.S.
government checks --- which is to say as long as the
Republic exists --- then the goverment can and does spend
without borrowing, if it choose to do so. ...Insolvency,
bankrupcy, or even high real interest rates are not
among the actual risks to the system.

Economist Paul Krugman responded on his blog with a post called

I Would Do Anything For Stimulus, But I Won't Do That (Wonkish)

http://krugman.blogs.nytimes.com/2010/0 ... more-10618

Krugman's argument is based on lots of math. And it ends with a
graph that shows inflation increasing exponentially.

Krugman says: (1) inflation would increase exponentially (2) so
the government would realize this, and write off their debts (3)
but bondholders would figure this out from the get go (4) so
bondholders would demand much higher rates of interest the moment
that the government started printing money.

Thus, if the government were to ever start printing greenbacks,
not only would we end up with exponentially increasing inflation,
but the defecit would become larger, not smaller.

And, in the end, we would write off our debts anyway.

So why not write off our debts right now, and get it over with?

Jamie K. Galbraith responded by writing Krugman a letter at

http://krugman.blogs.nytimes.com/2010/0 ... more-10618

That was very suprising news to me!




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 Post subject: Re: Krugman vs Greenbackers
PostPosted: 20 Jul 2010, 10:20 am 
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Joined: 21 Aug 2009, 8:01 pm
Posts: 90
Shrewd, isn't it, that Krugman would use an old Meatloaf song?

"I would do anything for love, but I won't do that" ?

But Jamie K. is right about the short term.

Krugman even admitted that with all the deflationary pressures
out there, no iflation would exist until labor markets tightened.

But the bond-vigilanties would come in the very beginning anyway.

And that's his point.




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 Post subject: Re: Krugman vs Greenbackers
PostPosted: 20 Jul 2010, 11:14 am 
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Joined: 21 Aug 2009, 8:01 pm
Posts: 90
As a democrat, this is hard for me to say.

But I will say it anyway:

Amazingly, niether Paul Krugman nor Jaimy K seems to give a
damn about (1) Chinease currency under-valuation (2) or the
writing off of all this debt WHENEVER THE REPUBLICANS ARE
IN POWER.

But, somehow, when the Democrats take control of the
government...SHAZAM! They seem to find religion.

So now they suddenly care about stuff.

Isn't that something?

Coincidence?




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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.



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