MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
So dear old chap Nehru Bhai. This Marriott thing would have better served the expansion of the economy, job creation and wealth creation if it was done by the Private Sector, even if it was a Chineee investor.
End of Lesson No. 1 exclusively for Nehru Bhai.
Replies sorted oldest to newest
So if the Govt dont borrow, will you finance the Marriot or the Roads, Cables for improving the Country's Communication Systems???
NEHRU the man is saying the government donot need to build no hotel,maybe a nice clean jail for some of them future home
OK, so let us buy a few camels and Goats and improve our Economy. End of matter EVERYBODY HAPPY HAPPY NOW.
Ronald what I learn in Kindergarten you NOW trying to understand that. Best wishes on your studies.
maybe the camels and goat will bring in a few bucks,this hotel will lose money,which one is better.let me see you think like a indian
maybe the camels and goat will bring in a few bucks,this hotel will lose money,which one is better.let me see you think like a indian
I am so GLAD the KFC and YOU NOT leading Guyana.
I think this is an impossible task. He is more comfortable with trash talking.
politics is not for me.i leave it for smart people you
Ronald, You need many many Lessons before you can remain on GNI. Bannas save yourself TOTAL Embarassment. Is Christmas Time.
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
HENRY: "The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc."
========
Not correct for small open economies with persistent foreign currency constraints.
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
I am sorry but when you said this was ignorant, I thought you would have shined some wisdom, but what you shone was absolute rubbish Henry.
Now to your rubbish point.
You are endorsing a Keynesian myth that government spending is the main driver of new money in the economy.
I am saying, yes credit is created but if one compares a Government dollar and a private sector dollar, the private sector dollars has been empirically proven to have a higher multiplier effect, thus more credit, more wealth.
Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself.
The Government has to spend on services the private sector will not fund such as the army and police but the Government has no business in building any HOTEL. This act of Government building the Marriott is only crowding out the opportunities for the private sector to grow the economy, create the jobs and expand the wealth of the nation.
My thoughts. Now your rebuttal Henry old chap.
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
I am sorry but when you said this was ignorant, I thought you would have shined some wisdom, but what you shone was absolute rubbish Henry.
Now to your rubbish point.
You are endorsing a Keynesian myth that government spending is the main driver of new money in the economy.
I am saying, yes credit is created but if one compares a Government dollar and a private sector dollar, the private sector dollars has been empirically proven to have a higher multiplier effect, thus more credit, more wealth.
Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself.
The Government has to spend on services the private sector will not fund such as the army and police but the Government has no business in building any HOTEL. This act of Government building the Marriott is only crowding out the opportunities for the private sector to grow the economy, create the jobs and expand the wealth of the nation.
My thoughts. Now your rebuttal Henry old chap.
RONALD: "Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself."
===
Blinder's take on fiscal policy is not relevant to small open economies with persistent foreign currency constraints. I had the pleasure of meeting Solow on three occasions. Among economists he has the best sense of humor and is wonderful in his treatment of graduate students. Solow told us (four of us were talking with him)his 1956 model was not intended to be applied to underdeveloped economies. Unfortunately the economics profession took is model and applied it to our problems.
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
I am sorry but when you said this was ignorant, I thought you would have shined some wisdom, but what you shone was absolute rubbish Henry.
Now to your rubbish point.
You are endorsing a Keynesian myth that government spending is the main driver of new money in the economy.
I am saying, yes credit is created but if one compares a Government dollar and a private sector dollar, the private sector dollars has been empirically proven to have a higher multiplier effect, thus more credit, more wealth.
Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself.
The Government has to spend on services the private sector will not fund such as the army and police but the Government has no business in building any HOTEL. This act of Government building the Marriott is only crowding out the opportunities for the private sector to grow the economy, create the jobs and expand the wealth of the nation.
My thoughts. Now your rebuttal Henry old chap.
RONALD: "Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself."
===
Blinder's take on fiscal policy is not relevant to small open economies with persistent foreign currency constraints. I had the pleasure of meeting Solow on three occasions. Among economists he has the best sense of humor and is wonderful in his treatment of graduate students. Solow told us (four of us were talking with him)his 1956 model was not intended to be applied to underdeveloped economies. Unfortunately the economics profession took is model and applied it to our problems.
and the point is?
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
I am sorry but when you said this was ignorant, I thought you would have shined some wisdom, but what you shone was absolute rubbish Henry.
Now to your rubbish point.
You are endorsing a Keynesian myth that government spending is the main driver of new money in the economy.
I am saying, yes credit is created but if one compares a Government dollar and a private sector dollar, the private sector dollars has been empirically proven to have a higher multiplier effect, thus more credit, more wealth.
Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself.
The Government has to spend on services the private sector will not fund such as the army and police but the Government has no business in building any HOTEL. This act of Government building the Marriott is only crowding out the opportunities for the private sector to grow the economy, create the jobs and expand the wealth of the nation.
My thoughts. Now your rebuttal Henry old chap.
RONALD: "Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself."
===
Blinder's take on fiscal policy is not relevant to small open economies with persistent foreign currency constraints. I had the pleasure of meeting Solow on three occasions. Among economists he has the best sense of humor and is wonderful in his treatment of graduate students. Solow told us (four of us were talking with him)his 1956 model was not intended to be applied to underdeveloped economies. Unfortunately the economics profession took is model and applied it to our problems.
and the point is?
Figure it out.
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
I am sorry but when you said this was ignorant, I thought you would have shined some wisdom, but what you shone was absolute rubbish Henry.
Now to your rubbish point.
You are endorsing a Keynesian myth that government spending is the main driver of new money in the economy.
I am saying, yes credit is created but if one compares a Government dollar and a private sector dollar, the private sector dollars has been empirically proven to have a higher multiplier effect, thus more credit, more wealth.
Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself.
The Government has to spend on services the private sector will not fund such as the army and police but the Government has no business in building any HOTEL. This act of Government building the Marriott is only crowding out the opportunities for the private sector to grow the economy, create the jobs and expand the wealth of the nation.
My thoughts. Now your rebuttal Henry old chap.
RONALD: "Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself."
===
Blinder's take on fiscal policy is not relevant to small open economies with persistent foreign currency constraints. I had the pleasure of meeting Solow on three occasions. Among economists he has the best sense of humor and is wonderful in his treatment of graduate students. Solow told us (four of us were talking with him)his 1956 model was not intended to be applied to underdeveloped economies. Unfortunately the economics profession took is model and applied it to our problems.
and the point is?
Figure it out.
as you wish
Nehru is not interested in education. The man already at CUNY. He looking to feed at the trough.
Nehru Bhai:
Today is a day off from college, today we drinking rum. It is Christmas time.
Classes off until January 16th.
MERRY CHRISTMAS NEHRU AND A HAPPY NEW YEAR.
ON A SERIOUS NOTE.
GNI WITHOUT NEHRU AND HIS idiosyncrasy WILL NOT BE FUN.
Thank you Nehru for your contribution over 2012. Many of time you made me laugh.
It is better to laugh than to frown.
So if you die tomorrow from too much rum, please remember you made some of us laugh and you will die in peace.
Merry Christmas my brother.
MERRY CHRISTMAS TO NEHRU BHAI AND ALL OF THE GNI CONTRIBUTORS. YOU DID MAKE THIS AN INTERESTING SITE FOR 2012. AND TO ASJ (ASIF), THANK YOU FOR YOUR PATIENCE WITH US AND YOUR TOLERANCE.
AT THE END OF THE DAY WE ARE ALL BROTHER AND SISTERS AND GUYANESE AND WE LOVE GUYANA MORE THAN WE LOVE ANY POLITICAL PARTY.
Nehrubhai, don't let them get to you.
Nehrubhai, don't let them get to you.
Uncle Rama is that you? How is Yuji doing?
Nehru Bhai:
Today is a day off from college, today we drinking rum. It is Christmas time.
Classes off until January 16th.
MERRY CHRISTMAS NEHRU AND A HAPPY NEW YEAR.
Thank you very much. ALL the BEST for the Holidays. Wishes for a Merry Christmas and a Prosperous New Year.
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
I am sorry but when you said this was ignorant, I thought you would have shined some wisdom, but what you shone was absolute rubbish Henry.
Now to your rubbish point.
You are endorsing a Keynesian myth that government spending is the main driver of new money in the economy.
I am saying, yes credit is created but if one compares a Government dollar and a private sector dollar, the private sector dollars has been empirically proven to have a higher multiplier effect, thus more credit, more wealth.
Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself.
The Government has to spend on services the private sector will not fund such as the army and police but the Government has no business in building any HOTEL. This act of Government building the Marriott is only crowding out the opportunities for the private sector to grow the economy, create the jobs and expand the wealth of the nation.
My thoughts. Now your rebuttal Henry old chap.
RONALD: "Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself."
===
Blinder's take on fiscal policy is not relevant to small open economies with persistent foreign currency constraints. I had the pleasure of meeting Solow on three occasions. Among economists he has the best sense of humor and is wonderful in his treatment of graduate students. Solow told us (four of us were talking with him)his 1956 model was not intended to be applied to underdeveloped economies. Unfortunately the economics profession took is model and applied it to our problems.
and the point is?
Figure it out.
One of the typical response when TK does not know the issues.
rama you back,did not here from you for a while,miss your cursing on GNI,i guess RALPH get to you and you see the light
Nehru a wan young punk born yesterday. You cannot reeducate a young punk he has to live a few years and learn by himself.
NEHRU have to be reprogram,the ppp brainwash him,ppp cheap white rum and water
You can't teach an old dawg new tricks. Nehru can just about suck an egg. Just imagine how long Bharat had to train him to do that.
Whereas with the Antimen For Change, sucking just come natural.
Whereas with the Antimen For Change, sucking just come natural.
Antimen, yes they got plenty of them in Pradoville.
Whereas with the Antimen For Change, sucking just come natural.
Bharrat start up a new party?
Whereas with the Antimen For Change, sucking just come natural.
Bharrat start up a new party?
MERRY CHRISTMAS! SIX RUNS!
Where is the old chap Conscience? Nice one Jungle!
Fire in the hole!
Whereas with the Antimen For Change, sucking just come natural.
Bharrat start up a new party?
MERRY CHRISTMAS! SIX RUNS!
What you trying to bowl him a googly?
MYTH #1:
Government spending "pumps new money into the economy."
FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from families, the private sector or from overseas.
I'm sorry, but this is ignorant. The system that was pioneered by the United States under Treasury Secretary Alexander Hamilton is the only really successful approach to nation-building. In this system, the sovereign nation-state is not at the mercy of private financial interests. The nation can create credit out of thin air, and loan to itself, for the purposes of building infrastructure and fostering science and technological development. This in turn fosters the development of private entrepreneurs who get contracts to build projects, etc. These private entrepreneurs hire a work force. Both the businesses and the workers pay taxes. The government gets its money back, plus some. And the cycle continues. This is called a "credit system," as opposed to a "monetary system," as we have now, where private finance can dictate terms to governments.
I am sorry but when you said this was ignorant, I thought you would have shined some wisdom, but what you shone was absolute rubbish Henry.
Now to your rubbish point.
You are endorsing a Keynesian myth that government spending is the main driver of new money in the economy.
I am saying, yes credit is created but if one compares a Government dollar and a private sector dollar, the private sector dollars has been empirically proven to have a higher multiplier effect, thus more credit, more wealth.
Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself.
The Government has to spend on services the private sector will not fund such as the army and police but the Government has no business in building any HOTEL. This act of Government building the Marriott is only crowding out the opportunities for the private sector to grow the economy, create the jobs and expand the wealth of the nation.
My thoughts. Now your rebuttal Henry old chap.
RONALD: "Please read the academic paper from Printon University Economist Binder and Solow labeled - DOES FISCAL POLICY MATTER? to help yourself."
===
Blinder's take on fiscal policy is not relevant to small open economies with persistent foreign currency constraints. I had the pleasure of meeting Solow on three occasions. Among economists he has the best sense of humor and is wonderful in his treatment of graduate students. Solow told us (four of us were talking with him)his 1956 model was not intended to be applied to underdeveloped economies. Unfortunately the economics profession took is model and applied it to our problems.
and the point is?
Figure it out.
One of the typical response when TK does not know the issues.
Oh...shuck Aristotle sorry for missing your one line contribution. Had it been a few more sentences, I perhaps would have seen it. That single sentence is so deep it completely passes me. What profound ontology are you bringing to us this time?
dear Nehru Bhai;
this PPP is not only satisfied with keeping you in subsistence, they are keen on emptying your brains. With their perverted narcissism and perverted logics, they are trying to rewrite history in Guyana by trying to tell us that things were worst before for the poor and the working class. It is a LIE.
As Walter Rodney said;
The rulers are continually trying to tell us that whatever they say is the truth â no matter what you see, no matter what you experience. Even if you saw it with your own eyes and they print the opposite in the Chronicle, you are supposed to say to yourself, "I must have been dreaming when I thought I saw it that way." (Laughter) They continually insult our intelligence and our capacity to make independent decisions.
But they publish so many contradictions in their own newspapers that even the most uninformed reader must come to the conclusion that they are reading a tissue of lies.
Yes Walter call the Chronicle the Tissues of LIES. Is the Chronicle any different today?
The last thing Walter Rodney would have done would be to embrace a bunch of compradors with their noses buried in the posteriors of the British NGOs and the IMF.
The last thing Walter Rodney would have done would be to embrace a bunch of compradors with their noses buried in the posteriors of the British NGOs and the IMF.
OH Henry;
you got the brass to call those fighting for the working class compradors.
It is very clear you do not know what is a comprador.
The real compradors are those boys around the Jagdeo cabal that has bought Guyana out for peanuts. They use NICIL to vest valuable state property into that shady company and then transfer it into private hands at heavily discounted prices.
So the real compradors are the Jagdeoties.
And who is a soup dog to the IMF? It seems you are stuck in 1992, since you have not witness the loyalty and sucking up from the Jagdeoites to the IMF between 1999 - PRESENT.
Shame on you for using words to LIE.
I will not be surprised if people like you Henry would willingly sell your daughter and mother to preserve the illegal and illicit trade you conduct in the name of your unholy crusade to empty the Treasury.
Look gwan from here!
Shameless! Characterless, go practice your unprincipled politics some where else. Your unconscionable commerce elsewhere.
Mark my word the working class will take all those illegal transfer back from you one day!
ONE DAY!
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