Warren Mosler: The Obvious Answer To The Problem Is “Print Money”
13 February 2010
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Keynesian fools are out in full force today as the following video shows
Supposedly there is no problem with printing and spending money. I am in awe of such stupidity.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Supposedly there is no problem with printing and spending money. I am in awe of such stupidity.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List
Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.
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you’re missing the point.
a distribution from the ecb to the national govts on a per capita basis changes nothing except the credit ratings of the national govts.
it doesn’t allow them to spend more because their spending is limited by the sgp (stability and growth pact).
an annual distribution from the ecb makes it easier to enforce the sgp spending rules as the penalty for non compliance would be the ecb withholding future payments. it’s easier to with hold a payment than to enforce fines and other penalties.
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