[ExI] Even India and Haiti do it better

[spike at rainier66.com]

> On Behalf Of John Clark via extropy-chat
Subject: Re: [ExI] Even India and Haiti do it better

 

On Thu, May 7, 2020 at 7:15 PM spike jones via extropy-chat <extropy-chat at lists.extropy.org <mailto:extropy-chat at lists.extropy.org> > wrote:

 

> suddenly the lenders stop lending, and start wanting to borrow.  That sends the interest rates thru the roof.

 

>…We've heard all that before, people have been saying deficit spending will produce ruinously high interest rates for 2 centuries....

 

John K Clark

 

 

 

Ja.  A Ponzi scheme is a great investment until it suddenly isn’t anymore.

 

My question: what happens when it isn’t anymore?  SR suggests we print more money.  This approach has been taken before:

 

https://www.amazon.com/Zimbabwe-100-Trillion-Dollar-Note/dp/B00U1ZMYGC

 

https://mashable.com/2016/07/27/german-hyperinflation/

 

https://www.aljazeera.com/ajimpact/venezuela-currency-worth-craft-paper-money-191224144545023.html

 

So we could tax the super high-paid.  But there aren’t that many of them: the big sports stars and a few CEOs make a lot money, but that isn’t a drop in the bucket.

 

Are there any other ideas?  If economies open up and Covid cases go way up, or if economies don’t open up in spite of the risk, we will need other ideas, lots of them.

 

spike

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