Economists only: What is the downside of printing and distributing trillions of dollars in an environment in which inflation is nil and demand is low? Who loses and when? @joshgans
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For banks. People are not getting direct money that is of any help.
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Those conditions are only 'just so' when the printer of the money, in this case Federal Reserve, is both independent of political influence and perpetual. Think of it. The Federal Reserve can wait for literally ever to get paid by the U.S.
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We are trying to kick the global debt can down the road one more time. It may work for now. But there will be future crises and next time it is even less likely to work. Someday will be a total “reset”. Those are violent.The billionaires building bunkers in New Zealand know this.
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I'm wondering if the dollar is backed by the perceived value of the economy. I think the perceived value of the future economy is high. If we are correct about that value & it can last over some time, I'm thinking, like you, that this is ok in this case. (not an economist--jw)
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There's a price to be paid. It's just not inflation. The price paid will be lost future growth as interest on national debt consumes a greater % if the Federal govt budget. Thus, crowding out spending for things that actually enhance economic growth.
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*of*, not if
End of conversation
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It's a free lunch. Until you find out 15 years later that the restaurant has been holding an interest-bearing lein on your house.
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Cantillon effect matters. Those who get the money first win
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