This is a video reply to Nick at the Modern Mystic who takes Marshall Auerbach to task for his latest “deficits don’t matter” post. They do matter. They should be an essential building block of the integrated economic-financial-monetary system of this country, just like MA says. But Joe agrees with Nick that the language and the posture put forward by MA and other NewDealers make it difficult if not impossible to understand what they are talking about.
excellent. thanks