05 Aug 2011

Murphy on the Judge’s Show Tonight

Economics, Federal Reserve, Shameless Self-Promotion 12 Comments

Tonight I will be on FreedomWatch, but if it affects your plans it is a guest host. (Her name was Liz-something, sorry I can’t remember exactly.)

I’m talking about the stock market, the Fed, and other sexy topics.

12 Responses to “Murphy on the Judge’s Show Tonight”

  1. MamMoTh says:

    I you have the opportunity don’t forget to mention that the debt ceiling problem has been a political problem, not an economic one for a monetarily sovereign country like the US and that the only purpose of all the hysteria created around the debt ceiling debate was to push for measures that will benefit the wealthy.

    And it would also be helpful if you could remind those morons who watch the show that a balanced budget is impossible to achieve when the non government sector is deleveraging and the external sector is in deficit.

    That is, if you care about the audience getting some basic economics education for a change.

    • kavram says:

      Haha the fact that the private sector is paying down their debts makes it impossible for the government to not spend more than it takes in? Care to expand upon this?

      • MamMoTh says:

        The sum of two negative numbers is a negative number.

    • bobmurphy says:

      Sorry MamMoth, I already pointed them to Coconut-Line, the company that mails you “special edition” fruit at above-market prices. I get a cut of their profits if you mention “Murphy” with your order.

      • MamMoTh says:

        That’s fine with me. Just thought you could also use your television time to give some basic education in economics as well. Those coconut savers need it!

    • Major_Freedom says:

      …a balanced budget is impossible to achieve when…the external sector is in deficit.

      In other words, as long as the government is not balancing its budget, then balancing its budget is impossible.

      I have to hand it to you MMTers. You have made worthless tautologies masquerading as profound economic insights an art-form.

  2. Bob Roddis says:

    If you have time, don’t forget to completely destroy the reputation of the MMTers and their support for the $2 trillion dollar platinum coin:

    These suggestions should horrify anyone who understands the importance of sound money. Not only are the proposals themselves preposterous, but the mere fact that they are being discussed is a symptom of the cultural decadence* wrought by the government and the Fed’s responses to the 2008 financial crisis.


    *Prof. Murphy always maintains decorum, but I would call it moral depravity. The fact that the MMTers don’t run out of the room screaming upon hearing these proposals says everything one needs to know about them.

    • MamMoTh says:

      It’s two $1 trillion dollar coin, Roddis, get your facts straight.
      And what a great idea it was.
      Pity no one had the balls to get them minted.

      • Bob Roddis says:

        For what it’s worth (to “MMTers“, nothing), this past February, the American Economic Review (specifically Kenneth J. Arrow, B. Douglas Bernheim, Martin S. Feldstein, Daniel L. McFadden, James M. Poterba, and Robert M. Solow) named its top 20 articles of the last 100 years. Included therein was:

        Hayek, F. A. 1945. “The Use of Knowledge in Society.” American Economic Review, 35(4): 519–30.


        It’s astonishing that the MMTers and Keynesians still don’t even seem to know that that is the major issue regarding all of their nefarious schemes. Mam-mouth sure doesn’t.

  3. Bob Roddis says:


    Update: Brad DeLong on the coin seigniorage option:

    “That seems to me the only way that he can faithfully execute all the laws. Otherwise, he has to break some–or have the Treasury Secretary violate his fiduciary duty as trustee of various trust funds.
    Minting high-denomination platinum coins, by contrast, creates no such problems. And is completely legal”.


  4. Bob Roddis says:

    There is a theory of history, which I don’t agree with, that treats civilizations as organic entities which go through a process of maturation, progressing from youth to senility in stages roughly comparable to the life process of a human being. Could the Spenglerians be right? Is American civilization entering a new phase — one of terminal decadence [and stupidity]?


    MMT is substantial evidence that the Spenglerians might be correct.

  5. Argosy Jones says:

    I bet Murphy won’t mention MMT on Napolitano.

    Wanna know why? He’s an MMT mole. “Robert P. Murphy the Misesian Praxaeologist”, is a character being played by an MI-6 Agent– a member of the Cambridge apostles debating society, if you know what I mean. That’s right, MMT = Matriarchal Monarchy Theory. “Murphy” is an agent of Her Majesty’s Secret Service

    Keep an eye on “Bob”. Before you know it, he’ll be advocating commodity buffer stocks and bimetallism. Only the latest of the Crown’s efforts to destabilise the land of the free.

    Don’t believe me- take the name of this blog.
    Now take the first word.
    And the two central, most important letters of that word.
    which stands for
    which is latin for

    Take a good look around, Rothbardians, Murphy ain’t the only sleeper agent. You can count on that. Probably not even the only one on this blog. Ever notice how some of these guys hate MMT just a little bit too much?