”One way to get there would be to reconstruct our whole monetary system – say, eliminate paper money and pay negative interest rates on deposits.” The other way might be to avoiding discouraging “irresponsible lending and borrowing at a time when more spending of any kind is good for the economy.”
Which did they choose?
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”One way to get there would be to reconstruct our whole monetary system – say, eliminate paper money and pay negative interest rates on deposits.” The other way might be to avoiding discouraging “irresponsible lending and borrowing at a time when more spending of any kind is good for the economy.”
Ok the choice was eliminate paper money and neg interest rates OR encourage irresponsible lending.
Which did they choose?
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Always the false dichotomy, *NEVER* is the solution of ‘smaller govt’ considered. I know, I know, silly me...
How about take apart Goldman Sachs would sold mortgage backed securities only to bet against them?