PKT message, Re: fiscal deficit

Re: fiscal deficit - Mosler addendum

To: mosler@xxxxxxxx, pkt@xxxxxxxxxxxxxxxx

Subject: Re: fiscal deficit - Mosler addendum

From: "William B. Ryan" <w_b_ryan@xxxxxxxxxxx>

Date: Mon, 26 Nov 2001 22:45:57 -0600

Mosler: "Loans 'create' deposits so there is no 'net' M aside from govt deficit spending..."

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Say what? Boy oh boy oh boy!

If the rate of flow of loans exceeds the rate of flow of the repayment of loans, there is positive and increasing M if bank deposits are counted as M--factoring out, of course, exogenous inputs or outputs from the quantity of M. If the rate of flow of loans equals the rate of flow of loan repayments, the quantity of M is positive and its quantity is constant. And if the rate of flow of loan repayments exceeds the rate of flow of new loans, M is positive but contracting.

At no time does the quantity of M "net to zero."

Simple math.

http://explorer.msn.com

Thread context:

Re: fiscal deficit - Mosler addendum, (continued)

Re: fiscal deficit - Mosler addendum, Bill Mitchell Wed 28 Nov 2001, 01:50 GMT

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Re: fiscal deficit - Mosler addendum, Warren Mosler Wed 28 Nov 2001, 02:43 GMT

Re: fiscal deficit - Mosler addendum, Per Gunnar Berglund Wed 28 Nov 2001, 21:28 GMT

Re: fiscal deficit - Mosler addendum, William B. Ryan Tue 27 Nov 2001, 04:46 GMT

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