Sometime in the next 24 hours we will be switching European Tribune over to a new layout. This will involve a little downtime and no doubt some teething troubles. Do not adjust your set. - Colman

Most US liberals and progressives are, more or less, economically illiterate and haven't gotten past Austrian or Chicago school economics 101. They share the same basic assumptions and theoretic constructs of  austerity economics, even if they would like to temper it's extremes by saving as much of the New Deal and Great Society as they can.
Stephanie Kelton calls them deficit doves, as opposed to deficit hawks. Both believe deficits should be reduced, it's just that the liberal deficit doves are willing to entertain short-term stimulus policies.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Sat Jan 12th, 2013 at 10:24:43 AM EST
[ Parent ]
When I met Kelton and Wray at a conference here some time ago, I had no idea how important they, and their ideas were about to become. I even asked her the conventional economic question about "printing money" ultimately leading to inflation and was surprised by the vehemence of her response to the contrary. Part of me wants Obama to mint the coin just to see Republican and Conservadem heads explode. Part of me wants him to face the political fall-out of a (probable) failed impeachment attempt just to overturn the whole conservative economic narrative of the right. After all he did promise to be a transformational President...

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Sat Jan 12th, 2013 at 11:49:34 AM EST
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