A very hard right turn.
The right doesn’t like Romney, but would have voted for him any way just to thwart Obama. And, if anything, the right sees this as a Ryan ‘sell out’ which he’ll strive to show otherwise, hardening his positions on ‘fiscal responsibility’ and the rest.
What this does do, however, is frighten the ‘left’ that had abandoned Obama into now turning out to vote for him.
That is, this creates an anti Romney that hadn’t previously been there.
Romney Says Paul Ryan to Be His Republican Running Mate
August 11 (Reuters) — U.S. Republican presidential candidate Mitt Romney on Saturday said he has selected Congressman Paul Ryan, 42, as his vice presidential running mate.
Romney, the presumptive Republican nominee, announced that he has tapped the House of Representatives Budget Committee chairman at an event in front of the retired battleship USS Wisconsin – coincidentally named for Ryan’s home state.
The announcement marks the end a months-long search by Romney for a running mate to join him in facing Democratic President Barack Obama and Vice President Joe Biden in the Nov.6 election.
Facts show that President Obama is doing great job for the 1%. His employers shouldn’t mind extending his contract for 4 more years.
Yes, and as a Senator he voted against the debt ceiling extension, and, like Ryan, fears the US could be the next Greece.
And his deficit reduction plan will ensure just as many millions never get a decent job and the rest of us lose that potential output for all practical purposes
just as much as the Ryan plan.
@WARREN MOSLER,
There is a difference. Both, as almost everyone else (let’s be honest, MMT is a likely very much spot-on but it is a fringe little understood model), think the government is revenue constrained. But Ryan truly believes a small economically inactive government is best. President Obama believes an active government role is needed, he just incorrectly thinks it needs to be funded down the road. Perhaps the end result will be the same, but I would rather take a chance on one who is half right, than another who is completely wrong.
@Roger,
And we continue the muddle trough nightmare indefinitely and never be able to wake up?
We need to hit rock bottom as soon as possible and get so scared that we wake up in the middle of the night. It might sound cynical, but, in this regard, I prefer Romney better.
@Roger,
Net spending is more important than the size of government.
If republicans cut or stabilize spending while reducing taxes even more the result might well be equivalent to a new stimulus package.
But I agree that being forced to listen for the next four years to all the economic BS coming from the Republican side might be truly distasteful even if there are positive economic results to compensate.
@Roger,
Ryan is not running for President. Having said that I’m happy with Obama–he’s keep my labor costs way down, and my employee loyalty way up.
What does it matter which president wins? no one is talking about jobs gaurantees, and only you and rickards and a few others are seriously discussing national deficit spending strategies with real teeth.
We are FREAKING DOOMED!
http://www.youtube.com/watch?v=mmASTC7wR6U Jim Morrison sings THE END, which should now be our NATIONAL ANTHEM and the theme song for this political clown circus, both parties have failed the people and make me not even want to vote at all, what for? What a joke.
what about my song ‘ledge’?
;(
Paul Ryan is talking about balancing the budget well in the future after significant tax cuts increase economic activity to 4% growth or greater. He believes we need to reform entitlements…and we do. While we have excess capacity today, we are at risk of becoming a permanent entitlement state down the road where a smaller percentage of the population is working to generate the real output needed by those not producing anything. We’re not going to go broke as some in both parties might have us believe. However, I’d rather pick a party that believes it’s a good idea to cut taxes now as opposed to arguing that tax hikes today on anyone are a good idea.
BTW, when Paul Ryan was a relatively unknown congressman, I was begging Warren to speak with him. Good luck now!
@Ivan, Ivan, you illuminate one of the worst problems of our government. Warren doesn’t have a chance to speak to an elected representative and expand ryans horizons, helping all of us. Our government, no matter who wins, is totally non functional for the citizens anymore. What a sad thing, the government FOR the people, cant get accesed BY the people. So much for our democracy.
I watched a special on the executive office, in washington’s time, random citizens could walk up to the white house and speak directly to the president. Even as recently as 50 years ago, the president was not isolated into such a BUBBLE as today. Today the presidency is so isolated, the program pointed out how Obama lives a life of excess that the greatest kings of just 100 years ago couldn’t even DREAM OF, so much for being a man (and an office) of “the people” The program went on to say Obama hasn’t driven a car in over 4 years. I bet even as rich as mosler and rickards are, they have had occassion in the past 4 years to drive themselves once or twice.
This government no longer “feels” the pain of the people, does not relate to them, and is more isolated from them than even the kings of last century were from thier citizens, we are so FREAKING DOOMED!
What hypocrisy, Sanders said congress is doing a good job for the lobbyists and elite that have bought off all the politicians.
What saddens me the most Ivan, is the comments I have just read here the past few hours, that the debate is still focused on who should be sent into the presidential office to best serve MMT ideals.
I really feel sorry for all of you, that the debate has not progressed beyond this point, to the point that the entire structure of government needs to be radically altered, and you all still waste time believing any change will come no matter who wins, shows not only are you on the wrong page, but in the wrong library, pathetic, disgusting, you make my stomach turn. Have a nice day! 🙂 LOL!
The elites have done such an effective job at misdirecting all you suckers into wasting your lives and time on useless issues and pointless endeavors that will not enact REAL CHANGE, it has made bernie sanders go bald with stress, ed bernays is rolling in his grave LAUGHING at all of you, and Harrison Bergeron decided not to blow his brains out because none of you are worth the sacrifice. (I am really a cheerful guy in real life 😉
@Save America I don’t know if I agree that our leaders are any more out of touch now than they were in the past. I also can’t imagine they’re any more out of touch that leaders of other countries.
One problem that seems to appear over and over on this blog is that somehow our leaders understand MMT but are keeping it from all of us. Alternatively, they are spoken of as stupid for not understanding MMT. In reality, our “leaders” listen to the top economists in the world, and our top economists still generally believe that we could go broke in our own currency.
@Ivan, Ivan, I feel Warren is trying to take the dark sith lords of this world (that he understands from an insiders perspective), and make converts out of them, instead of alienate them. Like turning annakin skywalker back to the light. That is why he says they are simply ignorant, when in his heart I am sure he knows the true evil.
Bernie Sanders just called every one of his other senators paid off corrupt crony scumbags that are sticking a knife in every citizens back. He alienates his peers, perhaps he is smarter than warren and realizes there is no turning annakin skywalkers back into good guys?
I think many things are VERY WELL understood, and Warren knows this, and he also knows this DARK SIDE of the FORCE we fight is not conquerable, only by HOPE of turning these dark forces back to good, can we fight them. They have to change themselves back into good jedi, they are simply too powerful for us to take on in a direct confrontation, as his proved EVERY day at this blog and many others.
http://www.nytimes.com/2008/03/27/us/politics/27text-obama.html?pagewanted=6” obama&_r=2&sq&st=cse&scp=1″alexander hamilton
Here was Obama from 2008, he knows the real deal, as do all the people at that level.
@Ivan, Ivan in just searching for the source link for lincolns MMT memes, here are some interesting analysis that warren has echoed here:
http://prorev.com/2009/01/obama-praises-americas-first-fiscal-con.html
Next Hamilton and associates, having kept the monetary power out of government, moved to assume it themselves. . .
Hamilton’s Federalists quickly put through legislation chartering the First Bank of The United States, as a privately owned central bank on the Bank of England model. The Bank would be issuing paper notes not really backed by metal, but pretending to be redeemable in coinage, on the one condition that not a lot of people asked for redemption. They never had enough coinage.
Thus the real question was whether it would be private banks or the government that would issue paper money. Will the immense power and profit of issuing currency go to the benefit of the whole nation, or to the private bankers? That’s always been the real monetary question in America.
Gold and silver served as a smoke-screen. What the bankers counted on were the legal considerations of the money. They knew that all that was needed to give their paper notes value, was for the government to accept them in payment for taxes.
http://www.silverstackerhaven.com/index.php?/topic/95-banksters-honor-their-presidential-opponents-on-their-worthless-currency/
http://rense.com/general44/exec.htm
http://cpe.us.com/article/famous-monetary-quotes/
http://www.hardassetsofhouston.com/blog/eight-presidents-who-opposed-a-central-bank-federal-reserve/
Warren has said, we pay what 6% to the private banks, but that CONGRESS is in control of the money, and therefore the money is controlled by the people. But Bernie Sanders probably thinks warren mosler is a fool, because he just called every single one of his senator peers totally bought off and paid for corrupt crony scumbags who have stabbed every citizen in the back.
So the issue is who REALLY controls the money, the government that is a servant of the people, or the government who is a servant of the lobbyists and dark sith lords?
Seems from the links above, lots of people get killed when they start challenging dark sith lords? Maybe warren keeps painting these issues as one of ignorance instead of calling out dark sith lords cause he doesn’t want to have a boating accident? LOL!
@Ivan, Here you go Ivan, read this, this guy was preaching MMT stuff almost 100 years ago, and he says the banksters KNOW full well the EVIL they are doing.
http://www.heritech.com/ymagchy/mcgeer/mcgeer.html
Up until the end of the first quarter of the present century popular opinion had been successfully deluded by bankers and financiers into the common belief that national currency could only be issued upon a basis that made its redemption in gold a practical possibility. That delusion formed the foundation of a private money system that was designed to permit bankers and financiers to convert public credit into private credit finance by the creation of fictitious bank deposits which were, in turn, pyramided into public and private interest-bearing debts. Government interest-bearing bonds are thus used to form the foundation of the modern private banking system. Public credit in this way is used to support the most powerful predatory monopoly in finance that has ever been organized.
The fiction that national currency must be redeemable in gold was finally killed in the British House of Commons when, in 1925, the Gold Standard Act, suspended in 1914, was changed and under the new Act the Bank of England legal tender note, the pound sterling, ceased to be convertible into gold, thus proving that the government can create money independent of gold. Legal tender money and the purchasing power medium of exchange, whether it be money or credit transferred by cheque, is therefore a creature of law and its creation and circulation constitute the exercise of a supreme prerogative power of governmental authority.
Now that men are sufficiently emancipated from illiteracy to read, write and understand the rudiments of arithmetic, we are able to escape the limitations that a shortage of money of intrinsic value imposes.
LOL! Jokes on you MCGREER! Grandfather of MMT! Suckers still out here in this world being FOOLED by banksters and wasting thier whole LIVES on useless endeavor! Even more sad McGREER, Moslers have to come along and WASTE 20 years of thier lives rediscovering MEMES you found 100 years ago, that you rediscovered yourself from Lincoln, what a sad PATHETIC tragedy this book gives to the legacy of MMT, it seems we are DOOMED to make the same mistakes over and over and re-invent the wheel every few generations or so, pathetic, Erickson, give it up, collective return on coordination past a few generations seems an unachievable holy grail, we can’t keep long term institutional memory to keep progressing. Warren I would be pretty pissed right now if I was you, thinking I was the innovator of 20 years of paper and research, and some canadian mayor was shown to predate all my memes, but you are a humble guy, I am sure you don’t mind 😉
@Save America, Necessity compels us to recognize that public credit used as the purchasing power of government and as consumers’ buying power must be issued and circulated by the government through the social system and back to the government by taxation and deposit, leaving in the possession and to the use of the people the amount required to advance progress and the general standard of living. In this way public credit, which belongs to the people, can be used to aid in the production and consumption of wealth. This is the only practical way by which an enlightened civilization can effect the division of labour and intelligence that is necessary to the creation and distribution of the abundance of wealth that an educated people can produce and use. Therefore, the circulation of credit purchasing power constitutes the very foundation of an enlightened nation’s economic stability. As a sacred trust and over-riding responsibility, its administration by government stands first in all the duties that responsible government must assume. It is second to none—not even to the administration of justice and the maintenance of order.
Anyone can imagine the chaos that would ensue if our judges, who are the managers and administrators of our system of justice, were permitted, with the approval of public opinion, to reap unlimited private gain in the dispensation of law. The identical chaos that would develop under such circumstances now appears in the realm of economy for the simple reason that we have farmed out to a profit-making monopoly the management of public credit which now constitutes the “economic blood-stream” of the social system.
The present monetary system based upon the theory that public credit must be converted into private bank credit which the banker issues and loans at interest repayable in money, violates the elementary principles of reason and common sense. The financiers who could ever use judiciously so extraordinary a power to accumulate the wealth of others never have and never will be born. We must change that system or perish.
I should let this rest, already too much time into it, Warren, if I didn’t have the utmost respect for your character, I would accuse you of plaigarizing this guy, forgotten to history Warren, take note, if you don’t have a MAJOR change in strategy, 100 years from now, you too will be forgotten from history warren, and another few generations of people will be suffering ALL OVER AGAIN. And fools will ask that mosler, nah, can’t be evil DARK forces out here, people are just ignorant, and the future erickson will be wondering why humanity can’t do a better return on coordination.