"Why issue bonds at all ???
It is time to take back our constitutional right to print our own money ... that's right! ... print our own money NOT borrow it ..."
the fed does that already ...every trading day more or less
are you suggesting congress order the fed
--its creature ultimately and not protected by the supremes ---
to buy up more of uncles outstanding debt ??
that's been tried in the hundreds of billions
are you suggesting the fed go for trillions ??
okay why not
and thru fanny and fred
buy up the household morgages too
why not
but that set of actions and all the "liquidity" it would create still needs
a household income suplement and pri sec jobs induction program
o complete itself
ie to produce a rapid recovery here
and given all the cash out there already
we can do the second part
get the recovery
strictly on borrowed funds alone
without fed monetization
without the fed going on a buying spree
the problem with MMT enthusiasts
they want to implement their gimmick so badly
they can't wait till its relevent
oddly enough
paul krugman is preparing us wambats of the meme out back
to pre empt that righteous recommendation at the very moment it becomes paramount
ie
"when the system restores credit traction"
yes the magic moment when MMT
could liberate us from mere hicksianism
during times like say 1979
stagflation times
when we could have gone much farther much faster
restored full employment and blasted ahead fearlessly
we could have avoided the stupid volcker dammerung
and stockton's economic dunkirk bull crap
and cried
"to hell with the bond vigilantes
full speed ahead "
inflation
bring it on
time we cured that institutionally once and for all
It is time to take back our constitutional right to print our own money ... that's right! ... print our own money NOT borrow it ..."
the fed does that already ...every trading day more or less
are you suggesting congress order the fed
--its creature ultimately and not protected by the supremes ---
to buy up more of uncles outstanding debt ??
that's been tried in the hundreds of billions
are you suggesting the fed go for trillions ??
okay why not
and thru fanny and fred
buy up the household morgages too
why not
but that set of actions and all the "liquidity" it would create still needs
a household income suplement and pri sec jobs induction program
o complete itself
ie to produce a rapid recovery here
and given all the cash out there already
we can do the second part
get the recovery
strictly on borrowed funds alone
without fed monetization
without the fed going on a buying spree
the problem with MMT enthusiasts
they want to implement their gimmick so badly
they can't wait till its relevent
oddly enough
paul krugman is preparing us wambats of the meme out back
to pre empt that righteous recommendation at the very moment it becomes paramount
ie
"when the system restores credit traction"
yes the magic moment when MMT
could liberate us from mere hicksianism
during times like say 1979
stagflation times
when we could have gone much farther much faster
restored full employment and blasted ahead fearlessly
we could have avoided the stupid volcker dammerung
and stockton's economic dunkirk bull crap
and cried
"to hell with the bond vigilantes
full speed ahead "
inflation
bring it on
time we cured that institutionally once and for all