Comments by "bj0rn" (@TheLivirus) on "Blyth Devastates Congress' Approach to Budget" video.

  1. rollofnickles Nicely phrased! Did Mark say this or did you come up with it yourself?
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  2. rollofnickles Thank you!
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  3. ParrhesiaJoe  "To pay back even a penny, you have to take in more than you spend." Yes and Mark is telling you that as a country you cannot pay off your debt by cutting spending because it results in loss of revenue. Analogy: You are starving because your body burns more calories than you manage to consume. What's your strategy? Do you focus on burning less calories or do you increase your effort of getting food? Mark is telling you that the first strategy has shown to be counterproductive.
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  4. ParrhesiaJoe Let's distinguish between what caused the crisis and the strategy for getting out of it. Mark holds that US recovered from the crisis relatively quick precisely because it ramped up spending while the Euro zone fell for the austerity trap. Is this not the case? In 2012 he noted that following the crisis "every country that had embraced austerity had significantly more debt than when it started". This hard data tells me he's on to something and you're not. If you hope to convince anyone that the case is otherwise, you better explain why US recovered relatively quickly despite the bail-outs and ARRA while the Euro zone did not despite extensive cuts.
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  5. ParrhesiaJoe CEO huh... is the board aware that they hired a tin-foil?
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