[LMB] OT: Governor’s Orders

Damien Sullivan phoenix at mindstalk.net
Wed Nov 18 19:42:14 GMT 2020


On Tue, Nov 17, 2020 at 03:58:35PM -0600, Louann Miller wrote:
> 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

Actually I'd say doing it well is more common now: the entire world
financial system after Bretton Wood collapsed.

> spent his way through the Depression and World War II, and (tongue in

*Taxing* his way through the Depression is the opposite of just printing
money!  But may be why our recovery was anemic until WWII.

-xx- Damien X-)


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