Jason Furman is hopelessly lost without the Lucas criteria. He thinks, once again, we are an infinitely divisible groupd of agents and things work outm eventually. He does all the usual linear regressions.
It is not How we should think, it is What we think. that is economics, Furman is asking us to wait indefinitely for Godot and all; adop0 his fantasy. A complete delusional. His philosophy is why we have such inequality, he is the main cause. He, Krugman and Bernanke.
We think the Fed will be hitting us with 200 billion in regressive seigniorage taxes for ten years and the small states are not likely to survive. We think the rebellion will grow until most of us are ready to shut down the whole stinking ergodic facade and devalue, like an normal government.
Do not listen to this guy unless you are subdividable and live to infinity. He seems quite clueless.
According to the MIT fake of 1972 was that the following chart could not happen:
Most of the fakers have been exposed, they were supposed to get clues and instead we have this nut Furmam claiming their our correct thoughts that can reverse this fake. The rest of them are at least being circumspect about the issue. It took a total of ten years for these nutcases to actually see this chart for what it was, a one time fake theory of government expending itself, a lunacy created by Paul Samuelson.
They are not economists, they are frauds claiming that economics is all about what we should think. The whole fake theory was built on the premise that dim bulbs like Yglesias could be fooled with talking points.
The entire government plot of the 70s was to convince finance that we would not devalue again. The result is a repeat of the Nixon Shock when the elders suddenly discover the 'This time is different' fake isn't working and we get a turbulent overnight devaluation. Furman is clueless.
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