Posted To Mish Shedlock’s Blog 01/03/2023

“Why if you wanted these things didn’t you pass legislation in the first two years of the Trump Administration when you held the Senate, House, and the White House?”

Undoubtedly because at least some republicans (not the freedom or chaos caucus) understand that guys like Steve Keen have mathematically proven that without fiscal deficits the economy will inevitably slide into recession. Hence their political calculus is let’s pretend we want a balanced budget to pander to our idiocracy while not doing the economically sane thing. After all, all we actually care about is gaining and holding political power…by doing the bidding of Finance which is that the necessity for a new monetary paradigm NEVER BECOME A CONSCIOUS THOUGHT IN THE MINDS OF THE POLIS.

All of the things you list are true, but even if there was some way to resolve those issues without a paradigm change (in other words there isn’t any way to do so) their beneficial effects would be minimal and likely fleeting.  Genuine paradigm changes are PERMANENT. That is historically confirmable. Everything adapts to a new paradigm, NOT the other way around. Republicans, democrats, libertarians and even the Stupid caucus want big change. It’s just that they have not figured out how to actually accomplish it in a way that integrates the best of the agendas of the opposing right/left duality. The new monetary paradigm and its major policies does so in spades. 

I like Mish. He’s very, very astute regarding the operations of the current economy within the present paradigm of Debt Only. Way back in 2007 I realized that his prediction that we were headed for a big housing deflation and so I was able to sell our Mexican condo at the top of the market. So we can often heed his advice…but his advice as well as anyone else’s that doesn’t confront the necessity of a new monetary paradigm…will never permanently resolve the major problems of modern profit-making economies. You have to find a way to temporally implement the new paradigm concept in such a way that it serves its historically verifiable integrative of opposites phenomenon.  In the interests of the economy, the nation and every individual and commercial economic agent in it I would love to have an honest, informed and non-insulting discussion here with Mish on the policies of the new paradigm. 


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