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The Most Subversive Sign Seen at the “Occupy Wall Street” Protest

The CIA has been called-in to investigate. Some have said that this is a secret code, perhaps signaling comrades for an as-yet-unknown assault on Wall Street. Investigators believe the photo might have been taken inside one of the Wall Street firms, indicating the “Wall Street Twins” might have infiltrated the inner sanctions of Wall Street, itself. Others have tentatively identified one of the “Twins” as a former Tea Party Presidential candidate, an accusation vehemently denied by Sarah Palin who proclaimed: “I’ve never seen any of those guys, although they are darned hard to tell apart”. No one in Washington has been able to crack the code, although language experts in all known human languages have been brought in. Some say it might be an obscure mathematical equation, perhaps even an economic identity. A reward has been offered for any useful information. Heck, Washington will reward even completely irrelevant or misleading hints.

Treasury Secretary Geithner as well as his mentor, former Secretary Rubin claim they have never seen the equation before and can make no sense of it. Former President Clinton, who has been trying to make a come-back in recent weeks, worried that the protesters are trying to discredit his Administration’s successes: “I’m sure Monica is behind this; and you know that I never had sexual relations with that woman.” The greatest fear seems to be that other demonstrators are picking up the mysterious symbols, chanting: “the sectoral balances balance; government deficits create nongovernment savings; government debts are our assets.” The 35 living Bank of Sweden Nobel winners for Economics have unanimously rejected this as nonsense. Paul Krugman proclaimed it a “liquidity trap”. No one could immediately decipher his comment.

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marthaflatleyOctober 4th, 2011 at 1:00 pm

Let's see. The definition of after tax savings is S = Y – T – C
The definition of national income is Y = C + I + G + (X-M)
You put these together and you get S = C+I+G+(X-M)-T-C
which after some rearrangement is 0 = (I-S)+(G-T)+(X-M)

LRWrayOctober 4th, 2011 at 1:19 pm

Martha:
Nice! Can you please teach this to someone in Washington?
Our Govt budget deficit plus our net exports equals our private sector surplus…….
Reducing the Govt budget deficit, given our net exports, means less private sector savings….

etc

John ZelnickerOctober 4th, 2011 at 2:06 pm

Nice post, Dr. Wray. I recognize Warren (I think that's him), but not the other fellow. And where was this photo taken?
Thanks.

rvmOctober 4th, 2011 at 6:32 pm

@ John Zelnicker

The photo was taken during the first MMT Teach-In Counter-Conference on Fiscal Sustainability held in Washington, DC on April 28 2010. I was standing next to the person who took that picture. :-)

LRWrayOctober 5th, 2011 at 2:53 am

Shhhhh! Not too much info please. The CIA is trying to track the Wall Street Twins down.
I think they are still holed up at one of the Wall Street frauds, maybe with hostages, trying to teach the Three Balances.

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