Re:One way to fight a coronavirus recession: $1k for every A...
by xyzzyz on Monday March 16, 2020 @08:43PM
(#22600154)
> The central bank could keep that independence but simply distribute the QE money to individuals as a one-time or traunched payment (I realize calling it a UBI is misleading as it implies it is ongoing). There should be no expectation that it is permanent or continues.
Right. This is a sensible (though unclear if the best) policy in context of exogenous shock. However, using this as a backdoor to introduce perpetual basic income of significant value, with some very vague hand-wavy plan how to pay for it on an ongoing basis, is rather silly, and that's what I was pointing out in parent posters.
The central bank could keep that independence but simply distribute the QE money to individuals as a one-time or traunched payment (I realize calling it a UBI is misleading as it implies it is ongoing). There should be no expectation that it is permanent or continues.