[LMB] OT: Governor’s Orders

Louann Miller domelouann at gmail.com
Tue Nov 17 21:58:35 GMT 2020


Although the government creating money out of thin air can be done well or
badly. Examples of doing it badly are plentiful. If you've read
"Extraordinary Popular Delusions and the Madness of Crowds," the example of
John Law introducing paper currency to France a couple of generations
before the Revolution is very entertaining.
Examples of doing it well are rarer, but it does happen. FDR taxed and
spent his way through the Depression and World War II, and (tongue in
cheek) the US economy in the 1950s seemed to recover from this horrible
blow all right.
As a side note, I encourage everyone to read "Extraordinary Popular
Delusions and the Madness of Crowds."


On Tue, Nov 17, 2020 at 3:45 PM Marc Wilson <marc.wilson at gmx.co.uk> wrote:

> On Tue, 17 Nov 2020 14:30:47 -0600, Eric Oppen <ravenclaweric at gmail.com>
> wrote:
>
> >Do people really think that the government can just magically make money
> >appear?
>
> That's exactly what they can do.  What they can't do, is do it with no
> consequences.
> --
> "Computer models cannot be fooled by an arrow diagram backed by a
> rhetorically compelling word salad." - George von Dassow and Eli Meir
>
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