[ExI] Deficit spending and never admitting you were wrong

[Brent Allsop]

"Printing Money" is only bad, because you can't remove printed money from
the supply, when needed, resulting in inflation.

But aren't they just lending money into the supply, creating a huge
"balance sheet" which can be recalled and removed from the supply, should
such actions be needed, to prevent inflation?

On Tue, May 26, 2020, 5:34 PM spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

>
>
>
>
> > *On Behalf Of *John Clark via extropy-chat
> *Subject:* Re: [ExI] Deficit spending and never admitting you were wrong
>
>
>
>
>
> On Tue, May 26, 2020 at 4:58 PM spike jones via extropy-chat <
> extropy-chat at lists.extropy.org> wrote:
>
>
>
> *>**> **…Many economists, including yours truly, considered these fiscal
> and monetary developments reasonable under the circumstances. It was, we
> argued, a good thing to run deficits in a slump, with little risk that
> these deficits would create any kind of crisis. It was also a good idea to
> print money, with little risk that doing so would lead to inflation…
> Krugman*
>
>
>
> > John your theory
>
>
>
> It's not my theory, it's the theory of a Nobel Prize winner in economics
> who was proven to be absolutely right in 2008….
>
>
>
> > will get a test very soon.
>
>
>
> And if it passes that test in 2020 as it did in *2008 …*
>
> John K Clark
>
>
>
>
>
> We are spending way more of the federal budget to service debt now than
> before 2008.
>
>
>
> If the 2020 isn’t extremely painful, then I would be even more for deep
> tax cuts.  If we can somehow solve budget problems by printing more money,
> the tax rate should be in the single digits and the money-minting numbers
> should be in the 16 digits.
>
>
>
> I think we are fooling ourselves thinking we can print our way out of
> trouble.  No country can do that, it doesn’t matter what form of government
> they have.
>
>
>
> spike
>
>
> _______________________________________________
> extropy-chat mailing list
> extropy-chat at lists.extropy.org
> http://lists.extropy.org/mailman/listinfo.cgi/extropy-chat
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20200526/adc1d713/attachment.htm>