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View Diary: Robert Reich Gets It Right (171 comments)

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  •  Many pertinent ideas in this diary (2+ / 0-)
    Recommended by:
    divineorder, blueoasis

    and in the comments.

    But however right the various ideas for dealing with the Catfood Commission's nefarious plans, what is needed most is a whole paradigm change in our understanding of how the economy actually works in the real world.

    The following diary is a good, simple start to grasping realistic concepts of economics:

    From the above diary:

    The upshot of all this is that all this talk of government deficits and a ballooning national debt is pure delusion.  Too many people think of money as if we were still on the Gold Standard, and it was possible in some way to "run out" of money.
    That diarist is touching on some of the basic concepts of Modern Money Theory which can be explored further by following the Money and Public Purpose group here at DKos.

    Commenter Old Surgeon above has recently written some great comments on this topic. And now that Obama is safely reelected, you might find it easier to read my earlier diary in which I attempted to analyze reasons behind his negotiating style:

    For the first time in human history, we possess both the means for destroying all life on Earth or realizing a paradise on the planet--Michio Kaku.

    by psyched on Tue Nov 13, 2012 at 02:45:34 PM PST

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