RE :”It’s as though these people think money really can be printed in the Mint basement with an adverse effect”
They want to create enough inflation to get spending and investing again, but only to generate tax revenue. They see the private investment as a necessary evil that must be controlled. They see government spending (public investment) as the best use for resources. Obama needs politically to start talking UP the economy in a year after he gets what he wants. Maybe 2 years inflation starts and they blame greed and call for windfall profits taxes and price controls.
I think what’s frustrating for me is that I have a lot of faith in the country and I think Americans will tighten their belts, go to work, and keep this country afloat by sheer American can-do attitude. But then Obama will take credit for it and use it to ensconce more of his allies in positions of power and more of his killer policies.