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Response to Triana (Original post)

Sun Jan 10, 2016, 09:11 PM

36. Professor Blyth is missing something important

 

Government revenue collapses in a recession/depression. It's not just the taxes no longer collected from the jobless, nor the sales taxes forgone on consumer spending, it is company profits going to zero, and losses carried forward.

In Europe the IMF/EU are insisting that countries in deep depression 28% unemployment, raise taxes to protect pension funds, even though the risk, the higher rate of return on those Government Securities is what attracted the funds in the first place.

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LineReply Professor Blyth is missing something important
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