Re:What the world will be like in a hundred years (1922)
by imtringued on Friday January 07, 2022 @04:22PM
(#29845014)
>No, it is a means of wealth transfer to the government without raising taxes. Where does the trillions in deficit spending come from? Inflation!
Saving creates a hole in the economy, the trillions of deficit spending are a very stupid way of filling that hole. It works better than doing nothing which is why we do it.
>The notion that it is for monetary stability is also propaganda. Milton Friedman in "Monetary History" showed that instability increased after the creation of the Fed.
Uh, that is a property of capitalism. It's great at first when debts are low then it gets worse and worse.
Saving creates a hole in the economy, the trillions of deficit spending are a very stupid way of filling that hole. It works better than doing nothing which is why we do it.
>The notion that it is for monetary stability is also propaganda. Milton Friedman in "Monetary History" showed that instability increased after the creation of the Fed.
Uh, that is a property of capitalism. It's great at first when debts are low then it gets worse and worse.