fiscal+monetary is like a 2-legged stool. The reason it has stayed stable is that people tend to overlook an invisible 3rd leg: a tech abundance leg that makes deficit economics possible: oil until ~1974, semiconductors after that... creates hidden gdp to balance the growth...
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but damn, money printer go brr levels of deficits might be too big for even Moore’s law at its fastest to overwhelm
world needs new tech abundance vector to balance the karm9c books here
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They can and will tighten monetary policy when the time comes, and probably prematurely if history is any guide.
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If they printed no money and we had a fixed amount of dollars, we would see massive deflation with tech, and the market would have to lower prices and thus wages constantly to keep up with increased efficiency. We may see this with Bitcoin if adopted.



