01-31-2016, 06:41 PM
(This post was last modified: 01-31-2016, 06:43 PM by BenSkywalker.)
Quote:The USA is printing money right now to get itself out of debt!
No, it isn't. The treasury sells securities to finance the debt. There isn't a person of reasonable intelligence in a major industrial nation who would use increased currency to handle debt. You can help finance it yourself-
https://www.treasurydirect.gov/indiv/pro...oducts.htm
Quote:As I said earlier, so long as the money is being created in order to support workers (who add value to an economy by performing their work) and to keep goods and services flowing throughout a community it isn't irresponsible.
Intent *NEVER* validates fiscal policy. Ever. Hyperinflation is the result of what you are talking about- and it hurts the working class the most- by miles. Do some research- this isn't a right versus left thing or even libertarian versus authoritarian- it's math. From nigh anarchist to Stalin style communist- it is *TERRIBLE* policy- every time.
Quote:It is irresponsible when it is done for speculative purposes (propping up the stock market)
Major stock market crashes result in massive recessions that hurt the poor the most. I hate corporations more then you do, but that doesn't make me blind to why it is necessary to prop them up sometimes(2008 could have ended up a lot worse). They do employ a staggering number of people. In NO WAY does that make printing currency valid as a way to do it, just saying sometimes, unfortunately, it is needed to help even the poor.
Quote:or when madmen try to use it as a way to get out from under a debt imposed as a result of losing a world war and having sanctions imposed.
Trying not to get snide here, you are making it hard though. Hitler *NEVER* used the fiscal policy we are discussing. He was able to gain power because of the economic policy you are championing- it destroyed the working class, crushed the poor. The only people who came out ahead were the wealthy as they held large amounts of physical goods and lands. The policy you are supporting makes the rich *MUCH* richer and poor *MUCH* poorer. When we look at the wealthiest people in the world *NOBODY* checks their bank accounts, they look at their assets. When hyperinflation sets in their $5 million apartment building quickly turns into a $500 million building, the poor living inside go from paying $900 a month to $90,000 a month in rent with not a fucking thing to show for it.
Quote:Coming back to the original topic, creating money in order to ensure essential services like water are able to function is a responsible use case.
No, it isn't- not even remotely close. Shutting the lights off in every government building, levying additional taxes, taking loans out- there are lots of responsible ways to approach it. Printing more money isn't one of them. It is *ALWAYS* going to hurt the poor the most(it hurts everyone, but much less so for the wealthy).