The last few months I've been busy trying to ignore the minutia of the daily media and look at the big picture. I was listening to this interview with 4 conservatives talking about how the economy works and questioning whether these politicians and policy makers are actually subversives (!).
Imagine my surprise when our good friends Goldman Sachs is mentioned by Mike Norman who says that Goldman understands that "government deficits add to savings"(around 24 minutes into the interview).
So the big question is: Why doesn't Goldman Sachs come out and publicly state that this austerity and budget cutting stuff is not only a bunch of nonsense but the absolutely wrong thing to do to the economy? Are they part of the "subversives" mentioned in the interview?
The people in this interview are:
- Host George Jarkesy
- Prof. Randall Wray, author of "Understanding Modern Money"
- Mike Norman of the Mike Norman radio show
- Warren Mosler, author of "The 7 Deadly Innocent Frauds of Economic Policy".
A pdf outline of the 7 deadly frauds can be found here.