Moldbug is literally the libertarian who stopped believing that QE causes inflation because "Duh", i.e. he doesn't understand why but was humiliated into accepting this. This is the only explanation for his idea of monetizing the stock market.
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To explain: inflation comes from too much money chasing too few goods. In QE, money doesn't chase goods but assets. In government spending (military, infra, etc.) money --> produces goods <-- . Converting everyone's 401k to cash at face value? What do you think will happen???
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In QE money is created but doesn't rly chase goods, as it's largely kept in a financial loop. In government spending money is increased but goods are too. But if all equities are converted to cash with no concomitant increase in production? That is a seismic inflationary shift
4:11 PM - 5 Apr 2020
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