Austerity and Budgets explained

In support of Beverly’s latest post and all her past postings wanting for Obama (or the Dem’s in general I would say) to explain the truth about how a government’s money really flows, I present this video from the Watson Institute. (via Didby at Hullaaloo.)  I happen to agree, it would be nice if our president would get it straight, but…

The Watson Institute presents Mark Blyth on Austerity from The Global Conversation on Vimeo.

 Of course, my pet peeve is that no one is talking about our nation’s equity.  I am confident that the American family would get that part of financing as it relates to borrowing and investing.  Heck, how long was it before Amazon broke even yet they kept right on borrowing and growing?*  Or lets put it closer to home.  How many Americans purchased a home that was valued at and borrowed against for the purchase that was equal to their annual income?  What was the old rule…3 times the median income was the average home price?

*incorporated 1994, 1st profit announced 2002

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