commentary by Roger Erickson
Why not abandon the concept of Fiat Fixed-Income drained from relatively static assets. And replace it with the concept of upward-floating REAL capabilities growth from high-tempo exploration of high-margin REAL options?
After all, the glory really does go to those who find a better way, not those conservatives who try to sit on the old ways - and hoard digits.
Those focused on interest income see reduced bond-income as a bad thing? Maybe for a few mercantilists, but not for the nation as a whole.
It's not like there aren't other REAL options. Rebuild? Build? Go back to the moon? Invent? Have fun?
These people seem to only see static value, not the dynamic value of coordinated public initiative.