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just a redistribution of income between savers and taxpayers.

And that cannot possibly lead to a collapse in aggregate demand, now can it? Because that would mean people saving without specific plans to spend later. And that is basically like saying that people can't predict the future.
Must be a miserable world where you don't even know next weeks weather. Probably round too.

by generic on Mon Dec 19th, 2011 at 07:33:11 AM EST
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