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Re:Spain is moving to permanently establish universal basic ... by lordnacho on Tuesday April 07, 2020 @09:56AM (#22803217)
We're about to test whether they are. If we somehow manage to print all this money and nothing bad happens, then why not?

I have some doubts about whether it can work, but if it does, we should think about the new economic reality.

At the moment though, I get the image of Wily E Coyote running over the cliff edge, but he hasn't looked down yet.

Re:Spain is moving to permanently establish universal basic ... by HideousKojima on Tuesday April 07, 2020 @10:08AM (#22803317)
>We're about to test whether they are. If we somehow manage to print all this money and nothing bad happens, then why not?

Fortunately, other states already have tried this, and shown that it causes immense economic harm. Specifically, we have the examples of Venezuela (53,798,500% inflation since 2016), Zimbabwe (peaked at 79,600,000,000% per month), and Weimar Germany (merely 29,500% per month at its peak).

So you should be asking, what if we manage to print all this money and something truly terrible, horrible, and damaging to the lives of everyone in the country happens? And what if it's something easily predicted by almost any economist and with massive historical precedents? And what if it sets the stage for genocidal dictators and the most violent war in history, as it did in the case of Weimar Germany?

Re:Spain is moving to permanently establish universal basic ... by _nalply on Tuesday April 07, 2020 @10:29AM (#22803508)
Counterpoint: Quantitative easing. Instead of giving money to banks give them to the people.
Re:Spain is moving to permanently establish universal basic ... by HideousKojima on Tuesday April 07, 2020 @10:46AM (#22803664)
Quantitative Easing is the fed buying bonds, bonds that must be repaid. It's not free money, it's loans.
Re:Spain is moving to permanently establish universal basic ... by _nalply on Thursday April 09, 2020 @08:27AM (#22821871)
Right. I am somewhat clueless but this feels like the FED helping banks not people?