An MMT site bringing you dogma-free economics without the pleadings of self interest
Well, yeah... any day now you'll need a wheelbarrow full of wheelbarrows just to buy a wheelbarrow. (Cue up meme that promotes self-flagellation fantasies and redirects blame for fiscal recklessness to the electorate. Cut to sad-faced voter)...and that's why I'm voting for RoBama. We've GOT to stop borrowing from China!!Overlay: "Pretty soon, there'll be Hell to pay"®Fade to black.
Huge influence of monetarism and quantity theory of money on the whole planet. Amazing, and most of these people are intelligent. They lose It when It comes to money, inflation and debt.
"would mean, all else equal, total bank deposits would rise from the current $8.4 trillion to $21 trillion."What the price of a loaf of bread, or a bar of silver, will be at that point, is anyone's guess. Or a wheelbarrow for that matter."Well, if we're holding all else equal and using the strictest possible interpretation of the quantity theory of money with the assumption of total factor employment, bread and a wheelbarrow would cost a little less than three times as much as now, I guess.So, uh... HYPER!
People are lacking in critical thinking these days. I was once one of those people, fired up from watching movies like Zeitgeist and Debt as Money. However, it all sounded too simple. There had to be more and I knew there was to be a better explanation out there. Now I argue with those same people and it's like yelling at a wall. They will admit that creation of money per se isn't inflationary and say it will end up in the market and still not see that it isn't the creation of money but the spending of it. So sad....
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