Are you OK with printing more money for the govt to spend?

Where exactly do you think all that wealth is? Wealth is not an activity, it is a noun a commodity of value of some sort. How does my wealth cause inflation and why would I be better off with you taking it from me and "out of the system"?

 

Not if the increase in currency is equal to the increased production of the economy and what it is adding to that economy and wealth of the nation. That is what we switched to when we went off the gold standard. The value of our currency is measured by our ability to produce goods and services and wealth. The GDP.

 

If they stopped, the monetary system would collapse and the US would collapse with it. Other than that its a great idea to stop printing

2020 is the record year for money printing



44% of GDP is government spending, any decrease in spending would also result in a decrease in GDP. Any significant drop in GDP would cause panic. Panic will cause asset values to plummet (could lose 80+% of their value), - housing, stocks, etc, which is pretty much what triggered the Great Depression.

Eventually, US dollar would lose its global reserve status.

Could we start to gradually replace printing with taxation, while doing some cuts to spending? Sure, but large spending cuts and large tax hikes are simply not going to happen. We know that for fact.

 

Printing money is, in essence, no matter who does it, theft.

Doing so reduces the value of the dollar to the value of the money printed.

Printing money, especially when it's done on a large scale, called 'quantitative easing' is the cause of inflation.

It results in 'too much money chasing too few goods', it causes the bidding economy to inflate and that dominoes to affect everything else. After a QE, it takes about 6 months to a year for the inflation to occur.

We had two major QEs, one during Trump with the CARES act, and one during Biden with the ARP. $2 Trillion each.

But, it was unavoidable because of the pandemic, the lock downs, the depression that could have manifested but the QEs propped up the economy. The price we paid for that propping up is inflation. But, since the pandemic faded, so will inflation, but prices won't fall unless the money supply shrinks, and that is a rare occurrence.

This has been going on since the Federal Reserve was created and the fractional reserve system established.

yes, inflation is a tax, but it is mainly a tax on those who cannot hedge, and a benefit to those who can. In fact, inflation is a transfer of wealth from the poor to the affluent.

This idea that 'poor pay no taxes' is a myth. they pay the inflation tax, much more than anyone else.

I own a house, it's value has increased from $20k to $125k. I've kept up with inflation. Anyone who didn't buy a house when I bought one has literally financed my asset accrual by not hedging for inflation, yours, too, if you hedged.

The question is, did you hedge? If you didn't, you're financing those who did.

And that is the long and short if it.

I don't condone it, but that is our system. it's rigged against the poor and for the affluent.

I think something should be done about it, and the solution is not capitalism.

I'm not saying get rid of capitalism, but it must be regulated so that the poor don't pay this inflation tax.

 

Well OK, but we had capitalism before we instituted fractional reserve lending. What we have now isn't capitalism any more than its socialism, we are a corporatism, and technically we're a 'state capitalism' just like Russia and China, we just hide it better.

 

Listen to Noam Chomsky, who has lectured extensively about this. You are correct --- We have 'statist capitalism' a kind of corporate welfare, socialism for the rich, rugged individualism for everyone else (though, thanks to liberals, there is help for the disadvantaged and for the elderly, to an extent, but not to an extent that is actually needed). I don't think we hide it at all. It's plain to see for anyone that has eyes. Both China and Russia are doing it more in the extreme, and we are headed in that direction. The end point is oligarchical fascism. In China, it's committee run fascism with a titular head (Xi), in Russia, it's pure fascism.

 

I feel like we both said basically the same thing here...

 

I notice most of the Left seems to be enthusiastic about the idea of printing more money.
But is that really so genuinely constructive to their interests? I've also heard many anecdotal observational claims, from nations that have experienced hyperinflation, that inflation hurts the poor the most.

Could it be that many on the Left are simply misguided on this issue, and don't truly understand what it will actually do? The idea of printing lots of free money can be tempting.

 

How do you suppose 'the rich' store/keep their wealth? And, what sort of income and/or net worth does one need to accumulate to be a member of 'the rich'? I ask because while I have a fairly healthy 'net worth', thanks mostly to my home, supplemented by my ownership stake in my late father's home (which is going to be sold as soon as a few background details come together, but how long that might take is unknown). What I lack in cash money (of any form, though I have some stock investments, a small amount of precious metals, and some electronic 'cash') I make up for in real estate, but that represents a twofold investment component. First was the acquisition cost, and due to a unique combination of timing and luck, we made out like bandits there, and then came the asset inflation, which has caused my home to increase over 300% since we purchased it), which represents most of the hypothetical value of my net worth.

So, all of the probably overly verbose wordage is to indicate that if you look at that one number (net worth), I'm probably top... say 20%. A guess, but a reasonable one. But almost all of that is the hypothetical value of 2 residential properties that I own. Is that me hoarding wealth and being part of the problem??

 

I personally support a Basic Minimum Income for all Canadians... and for all Americans... .financed in the manner of the President Abraham Lincoln Greenback Monetary Policy Experiment that he did during the Civil War...... or.....
like the way that the Bank of Canada was used from 1938 to 1974.

I went with..... i support printing money but only for Republican Projects........ giving money to all Americans is something that anybody who is actually Pro Life should tend to support.... to at least some degree!

Your theology and a Basic Minimum Income?


?
Should believers in Pro-Life support an Unconditional Basic Minimum Income?

1. 
   I am Pro-Choice and I DO NOT support an Unconditional Basic Minimum Income
   0 vote(s)
   0.0%
2. 
   I am Pro-Choice and I DO NOT support an Unconditional Basic Minimum Income
   0 vote(s)
   0.0%
3. *
   I am Pro-Life and I support an Unconditional Basic Minimum Income
   1 vote(s)
   7.7%
4. 
   I am Pro-Choice and I support an Unconditional Basic Minimum Income.
   6 vote(s)
   46.2%
5. 
   NO
   5 vote(s)
   38.5%
6. 
   YES
   1 vote(s)
   7.7%

Change Your Vote