> On Thu, February 11, 1999 at 10:00:28 (-0500) Doug Henwood writes:
> >Max, since you actually understand Clinton's plan, could you speculate on
> >why it's so damn complex? What's the fundamental point of
> political economy
> >that the three-card-monte-ish scheme is meant to disguise? And, how does
> >this proposed paydown differ from the post-WW II paydown, which coincided
> >with a great boom?
> Didn't we step out of the war flush with cash hoards?
I wouldn't know. Doug's the Flow of Funds guy.
> But, that's not terribly Keynesian to point out, is is?
Not sure what you mean here. Government holding its own nation's cash is a nullity, like debts to itself. The question is what it does w/the cash, I would think (its own or others').