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: Meet G.O.P economic guru Paul Ryan
PostPosted: 31 Jul 2010, 8:36 pm 

Joined: 21 Aug 2009, 8:01 pm
Posts: 90
Paying banks a higher yield on the reserves that they keep parked
at the Fed is what central banks do, uh, when they wish to suck
money OUT of the system.

But somehow Paul Ryan, the ranking Republican member on the House
Commity On The Budget, and author of "The Republican's Roadmap For
America's Future", DOESN'T EVEN KNOW THAT.

Here is what economist Paul Krugman says about this on his blog:

"Don't Know Much About Economics"

http://krugman.blogs.nytimes.com/2010/0 ... economics/
Hoo boy. I missed this; but Yglesias points out that in Ezra
Klein's interview with Paul Ryan, Ryan says that the way to increase
lending is to RAISE interest rates.
We need to do things to free up credit. We need regulatory forebear-
ance there. Right now, policy makers and regulators are doing opposite
things. So you're right that there's a lot of capital parked out there,
and we need to coax it into the markets. I think literally that if we
raised the federal funds rate by a point, it would help push money into
the economy, as right now, the safest play is to stay with the federal
money and federal paper.

I don't even know where to start with this. What does Ryan think the
federal funds rate is? (It's the rate at which banks lend each other
money overnight, usually to help meet reserve requirements.) He
obviously doesn't know the fed funds rate basically equals the return
on federal paper, so that raising the rate would make the banks more,
not less, likely to stay with that federal paper. I'm sure someone
will try to come up with a reason why Ryan is being smart here, but
the truth is that he's stone-cold ignorant.

Now, he wouldn't be the only ignorant member of Congress. But wait
--- my collegue David Brooks tells me, this very mourning, that
Paul Ryan, the most intellectually abmitious member of
Congress, lavishly cites Brook's book. Over the past few years,
Ryan has been promoting a roadmap to comprehensively reform the
nation's tax and welfare system.

So this is the smartest Republican that Congress has to offer?

Of course, Ryan's idea of fiscal reform is to run huge deficits for
decades, but claim that it's all Ok because wee'll cut spending 40
years from now; and he throws a hissy fit when people challenge his
numbers, or call privitization by it's real name.

But hey, he's intellectually ambitious.

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 Post subject: Re: Meet G.O.P economic guru Paul Ryan
PostPosted: 31 Jul 2010, 8:56 pm 

Joined: 21 Aug 2009, 8:01 pm
Posts: 90
Oh, but it doesn't end there! Krugman says:
UPDATE: And sure enough, Ryan tries to cover himself; see
the addendum at the end of Ezra's intervew. But he's faking it:
there's no way to go from what he now claims he was saying to the
words he actually said. So he's both ignorant AND dishonest,
which we already knew from the way he tried to deny that privat-
izing Social Security was actually, um, privatizing Social Security.

Amazing, isn't it? But if you saw a picture of Ryan on his website
in his three-piece-suite, and somebody told you about the TRUE FACT
that Ryan is the Rebublican Party's official economic guru...you'd
assume, incorrectly, that he was a TRAINED economist.

But even a FRESHMAN ECONOMIC STUDENT would have known better that
to say what he said!

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 Post subject: Re: Meet G.O.P economic guru Paul Ryan
PostPosted: 02 Aug 2010, 6:10 pm 

Joined: 21 Aug 2009, 8:01 pm
Posts: 90
Sooo many people have been screaming about the federal funds rate
for the last nine months and counting that I just cannot believe
how ignorant Ryan is!

Hey, take a look at him on his website in that three piece suite.

He sure doesn't LOOK ignorant!

But I feel Ryan's pain: twenty years ago, I found out that a "great"
book had been written about monetary policy. The book was on the
New York Times best seller's list. The copy that I bought had the
endorsement of Gary Hart inside the front cover.

So I too believed, at least for a few more years, THAT BANKS LENT

The book is called "Secrets of the Temple" by William Greider.

Nancy Pilosi, the Speaker of the House, recently siad that

"Secrets of the Temple is required reading on Capital Hill."

So that's the book that made the political class ignorant.

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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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