No telling if this will make it through, and I have no desire to try and remember to check. Response to this article.
Actually, I’m going to add a bit, so this won’t be quite the same.
Like the US, the EU owes way more money than it can ever hope to repay, if we apply normal economic methods to the problem. This is why I have invented new economic methods.
Please consider my proposal of using controlled hyperinflation (an apparent, but not real oxymoron) to recalibrate national economies: http://www.goodnessmovement.com/files/Download/Saving%20America–How%20to%20fix%20our%20financial%20system–version%20two.pdf
Governments get away with inflation because they do it gradually. Prices go up, and as Keynes pointed out, not one person in a thousand can tell you why. They just know milk costs twice this week what it did last week. This process is sneaky, so governments get away with it.
What no government in history has done, to my knowledge, is openly announce that is what they are doing, and do it all at once. This is chutzpah, but hell it’s better than bankruptcy.
To be clear, if the Weimar German government had announced, publicly, that the inflation the German people were seeing was being used to pay off government debts and industrial debts, there would have been a revolution, once the effects of that inflation hit.
Yet, the government was able to confiscate, secretly, the wealth of almost all Germans, and use it to get itself, the government, back in the black, as well as all large German firms who had wracked up debts in the War. Back in those days, most people were savers and not debtors. Inflation helps debtors and hurts creditors, unless those creditors are the ones creating the money, which is normally the case in the United States.
I ask again, and have received no good answer to this: why can’t we print our way out of trouble, but do it intentionally, openly, and QUICKLY? All private and public debt of all Americans erased, and the system capped so that future inflation is impossible. This will lead in short order to generalized wealth. I am convinced of it, even though no nation in history has ever done what I am proposing, either as a fix, or as an end condition (no money creation).
Feel free to answer here. Anonymous is enabled, and there is no filtering (although spam and blatantly inappropriate comments will of course be deleted.)