Monday, December 28, 2009

done with denninger

the deflationists are keynesians in drag, says gary north.

ever since i read denninger's article on defending fractional reserves (was: re: FRAUD, you IDIOT. you're defending FRAUD.), i have been waiting for a succinct shut-down of his general position. this does well.

let's see how karl feels about it on march 13, 2010.

oh this is so hard to watch. k.d. makes a total fool of himself in response. i can't see why, it's not like this site runs a bunch of ads or anything. he doesn't appear to need clickthroughs. why stretch so hard to drive traffic?

and there's gary's reply to that, for the readership unsure of what to think. very kind of him, i'd say.

having read and listened to audiobooks of mises and rothbard about the theory of money on my own time, and talks rothbard and woods and so on have given about money, the interest rate, et cetera, repeatedly, ad nauseum, because i enjoy it so much, and because i'm a damn slow learner, this is, i reiterate, hard (and sad) to watch.

denninger: first, suppose you might be wrong. consider your readers and their lives ten years from now.

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