Michael Normal on Bloomberg is crazy

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learing2012's picture
learing2012
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Michael Normal on Bloomberg is crazy

http://www.bloomberg.com/video/89345855/

This guy is advising the Federal Reserve Bank.

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jumblies
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learing2012 wrote: This guy
learing2012 wrote:

This guy is advising the Federal Reserve Bank.

Too much time on a sunbed. By his logic of debt being a virtue, *cough*, why should anyone pay back their debts? Credit card debt? Student loans? Mortgage in arrears? Bah, you're just being virtuous and to even consider paying it back would be immoral.

A virtue is a positive trait or quality subjectively deemed to be morally excellent and thus is valued as a foundation of principle and good moral being.

http://en.wikipedia.org/wiki/Virtue

But right at the end, around the 5:45 mark, he blathers on about how Greenspan said they could pay as much as they want to whomever and that the real question was whether it creates real assets. I would suggest the real question is, given you have more debt than you can manage and that you've shown and continue to show no moral imperative to pay back the people you borrowed from, whether anyone would accept your money.

History suggests not.

 

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Doug
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sounds like....

 This guy sounds like Rodger Mitchell who posted here a couple weeks ago.  I think the bottom line to their thesis is that money doesn't exist in any real sense, so wth, print, print, print.

Doug

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learing2012
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 yes, that's right. The

 yes, that's right. The term money is interchanged with currency. This gut does not know the difference: one a store of value and the other a means to an end.

learing2012's picture
learing2012
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money

 yes, that's right. The term money is interchanged with currency. This gut does not know the difference: one a store of value and the other a means to an end.

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RogerA
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As planned.

http://www.youtube.com/watch?feature=player_embedded&v=OeIFcuVTS3U

According to investor Kyle Bass, a senior Obama administration official stated that their economic plan moving forward involves killing the dollar.

Speaking at AmeriCatalyst 2011, which took place in early November 2011, Kyle explained what the Obama administration official apparently told him.

“The governments idea right now is we are going to export our way out of this and when i asked a senior Obama administration official last week how are we going to grow exports if we wont all nominal wage deflation, he said we are just going to kill the dollar.”

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Johnny Oxygen
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Tired ol' Keynesian line.

I've heard this guy many times. he doesn't believe what he is saying he is just a shill.

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ao
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what a guy

I've just added Michael to a list of people that the masses should visit for help when they become destitute.  I'm sure he'll be more than glad to share his personal wealth with them to bolster their economic situation.

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