gut;1504476 wrote:Ahhhh yes, the go-to-play of "we'll just print the money". It's not a problem worth addressing so long as we can always make the claim that we kept our promise, even if it's literally worth only the cost of a cup of coffee.
You've staked your entire philosophy/economic outlook around about 7-10 years or so of surprisingly "low" inflation (mainly because it has gone to assets, which we don't measure/quantify). This is the height of stupidity AND irresponsibility. Incredible as it seems, you are actually regressing. I can understand why liberals are going to extremes to justify a "new normal" of free money, but you're an idiot if you swallow that bs.
Crediting bank accounts is more like it. It is not a matter of opinion. A currency issuer cannot be insolvent. It makes no sense to even say.
I have not said that inflation is impossible. In fact...that is one problem with Medicare is that we don't use its bargaining power to bargain for lower prices...hence the actual problem of inflation in healthcare costs.
Inflation is the constraint and it's nowhere on the horizon and demand-pull inflation is easy to control and the FED has the power to do it all by itself if it ever materializes.
Or, But, of course, if we didn't want to put it all on the FED, when we're at full employment because we've ran a sufficiently large budget deficit from, say, a sufficiently large tax cut...at that point that there begins to be inflationary pressure, if Congress is actually functioning and not full of a bunch of Tea Party loons who act like we're still on a Gold Standard....we could just cut spending or raise taxes...depending on your politics...to alleviate that inflationary pressure.
