| Subject: | [socialcredit] Re: Ryan's debt virus bogey | | Date: | Wednesday, May 4, 2005 07:11:52 (-0700) | | From: | William B. Ryan <w_b_ryan @.....com>
|
You reject it and yet you spout it. You can't have
your cake and eat it too, John.
--- John Hermann <hermann@picknowl.com.au> wrote:
> At 08:46 PM 3/05/2005 -0700, Bill Ryan wrote:
> >"It clearly demonstrates that the growth of money
> and production is locked
> >into the growth of debt."
> >------------------------------------
> >Who doubts that statement, John? You would be hard
> pressed to find anyone
> >who disagrees with it, orthodox or non-orthodox. I
> suppose it comes down
> >to what you mean by "locked into." If you mean
> correlated, no problem.
>
> Whether he realises it or not, Bill Ryan has
> just made my case for me.
> The so-called "debt virus" hypothesis that Bill
> incessantly
> talks about has been rejected by most economic
> reformers. The reason
> being that it inevitably leads to the false
> conclusion that
> aggregate debt grows faster than does money and
> production. But we
> know from a mass of available data that they all
> grow at the
> same secular rate. As Bill says (or implies) in
> his statement above,
> this reality has been recognized by all intelligent
> investigators,
> whether orthodox or heterodox.
>
> One must therefore enquire into the reasons why
> Bill Ryan continues to
> throw the term around so recklessly. In particular
> why -
> in a frenzied disregard for the truth - he
> continues to label those
> who clearly do not subscribe to the hypothesis as
> its adherents.
> George Orwell would be most impressed with this
> little exercise in
> double-speak. The only possible explanation seems to
> be that
> he regards it as a useful term of abuse.
>
> -- JH
>
>
>
>
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