[ExI] Summer weather and COVID-19
johnkclark at gmail.com
Sun May 24 17:57:26 UTC 2020
On Sun, May 24, 2020 at 12:32 PM spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:
*> There is good reason why they can’t just print money based on nothing.
> We can’t manufacture wheelbarrows fast enough.*
You're worrying about the wrong thing, there has never been a time in
American history when interest rates were lower or inflation was less than
right now.Herbert Hoover thought as you do and figured that the way to deal
with the economic difficulties of 1929 was to increase tariffs and
drastically cut government spending, and he succeeded in turning a garden
variety recession into a worldwide Great Depression.
And even in the worse inflation in American history it was less than 20%, I
really think we can make wheelbarrows fast enough to keep up with that,
although if your suggestion is followed the uprising from millions of
penyless unemployed may cause a shortage of guillotines.
John K Clark
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