Heisenberg Report with a good line on deficit spending
".. the whole conversation comes back to the patently ridiculous notion that imaginary “red ink” is somehow an impediment when it comes to investing in things like childcare and education, but not when it comes to buying things like drones and the missiles they accidentally fire at children when somebody mistakes an aid worker putting water bottles in his trunk for an ISIS member loading up some explosives."
deficits [don't] matter for the issuer of the world’s reserve currency
ReplyDeleteNever seen it stated quite so cheerfully and openly before: the Americans just print all the money they want, and the rest of us vassals are supposed to accept it tamely as having value. Nice for them, but it won't last.