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From Mike Norman’s Radio Show:
 
 

Warren Mosler talks about Freddie & Fannie as Mike Norman’s guest:

 
Part 1:

 
Part 2:


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6 Responses

  1. I cant access part 8 either, only part 6 and 7.

    Warren you made a lot of interesting comments on the radio show, one persons expense is anothers income, its all circular, etc etc. My banker has a nice big yacht out in the marina, I cant even afford a small bass boat, I pulled up to the local bar in my beat up old minivan and offered to buy the cute girl a cheap beer, my banker drove up in his mercedes and bought her a $100 bottle of wine and escargot, where is my yacht and mercedes and cute girlfriend? It’s all circular right, what goes around comes around right? HUH? I can’t stop running on that treadmill they got me on to go to school to be a banker cause then I won’t pay my property taxes and lose my house and then wind up homeless and destitute. My banker friend could quit work and has so much in savings he can pay his property taxes for 20 years – its all circular? He came from a rich family, I did not, we are not created equal, he got advantages in this society that 1000 years of hard and smart work will not bring me to his level EVER.

    My native american indian friend says his great great grandpa ate all the fish and buffalo he could find, no property taxes, but now my native american indian friend has been locked up for being homeless (vagrancy) many times and can’t catch the first fish because they have all been fished out of the local lakes and rivers – humm – he said he liked it better back in the days before the europeans where you couldn’t OWN land and one guy could force another guy to pay taxes. My indian friend doeesn’t like all these tax laws, propert laws, contract laws, he doesn’t like all the lawyers either that make and constantly change these laws, and he also doesn’t like all the policeman types that enforce all these laws, personally I am starting to see things from my indian friends perspective and I am about all LAWED out myself. Tell me all the tax laws warren, every law on the books, you cannot, it is not possible, it is a farce and a joke and disgusting that real lives burn because of this sillyness. You say markets are very good within the box of government, well my indian friend says that box is a concrete block tied around your neck and you are already 20 feet under the ocean sinking deeper, if you want to live and thrive maybe you need to cut that concrete block (box) and all the markets in it.

  2. yes, it’s all ‘circular’ as a matter of accounting.

    you are making a different point regarding distribution of income and distribution of consumption. that’s all a function of institutional structure which presumably, at one time, was set up as an expression of ‘value’ but certainly has gotten far from that.

    i don’t like it any more than you do, even though it sounds like i’ve probably been in a higher income category than you are, hence this blog.

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