wbmw and n, check out this guy on CNBC this morning, Warren Mosler. It may take time for the video to buffer but it is worth watching. This guy is either a visonary or delusional... He contends deficits don't really matter and if the truth be told the Fed could and should just flood money out cheap all the time. http://moslereconomics.com/ any how trying to get a handle on what he is saying... Why does the gov even bother with taxes at all? Just add zeros to their account and we can have all the benies we need. Yeeeehaaa! it is true that since we went off any standard for money to total fiat currency, there is no limitation to the amount that can be out there except like a parent and child. You set limits on your child because you don't want a spoiled child or worse a child who doesn't know any better than to do destructive dangerous stuff. Look at the banks they were or are like that, no fear of extreme risk, because they know daddy Ben will bail them out. But there is some truth to what Mosler says, all the Fed has to do is move zeros around and voila there is plenty of money to reflate the economy. My point is, that is the "virtual reality" we have come to where some guys in an unseen room somewhere decide the fate of the world today... Wha???
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