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A comment on I'm reading the FT and WSJ from 100 years ago each week leading to 1929. Parent comment

Re:I'm reading the FT and WSJ from 100 years ago each week l... by pgwhalen on Sunday August 08, 2021 @03:29PM (#28109388)
It sounds like you subscribe to the increasingly popular framing of money creation, which is that the fed does not create money, the treasury does.

Much of my knowledge on the matter comes from fedguy.com.

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Re:I'm reading the FT and WSJ from 100 years ago each week l... by imtringued on Sunday August 08, 2021 @03:59PM (#28109604)
You see, you can't pay rent or buy groceries with bank reserves but they sure do make it easier for banks to lend money. Someone has to borrow money before it can be spent.

I would also like to mention that the fiscal stimulus by the Biden administration had the intended/usual effect. You know, the thing that QE couldn't create: inflation. If there is an effective tool then the defective tool that distorts the economy can be thrown away.

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