tag:blogger.com,1999:blog-53246864840716464.post1560740489947333658..comments2022-06-27T10:16:52.366-07:00Comments on Washingtons Blog: We Can't Inflate Our Way Out of the Debt Crisis ... So What CAN We Do?Unknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-53246864840716464.post-42304716099962371422010-03-13T13:07:53.644-08:002010-03-13T13:07:53.644-08:00http://www.rayservers.com/blog/generating-power-fr...http://www.rayservers.com/blog/generating-power-from-stupidity---the-harsh-truths-of-the-world-financial-system<br />.<br />and this.blindpersonnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-55237705373214695942010-03-13T12:49:55.089-08:002010-03-13T12:49:55.089-08:00http://www.truthout.org/deficit-fear-mongering5734...http://www.truthout.org/deficit-fear-mongering57346<br />.<br /> excellent.blindmannoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-18390679605597124892010-03-13T07:06:57.346-08:002010-03-13T07:06:57.346-08:00Great work to summarise all of this. I agree the ...Great work to summarise all of this.<br /><br />I agree the &#39;debt&#39; cannot be inflated away, at least to the degree is accepted/heard in the media.<br /><br />As an armchair economist I was wondering if this can be fleshed out a bit more? How does the china story fit in?<br /><br />It is my understanding that while the US runs a deficit (and therefore China a surplus) and with the Yuan pegged to the $US, China is in effect &#39;forced&#39; to hold assets denominated in $US.<br /><br />Does this mean that inflation will be first felt in China owing to china&#39;s lack of real control in setting its monetary policy and in effect having to print Yuan to maintain the peg?<br /><br />How will this affect $US bond rates, given that the Chinese reserve accumulation effectively means they will be invested in US treasuries?<br /><br />Will this put a cap on rates, provided the peg isn&#39;t adjusted in the interim?<br /><br />Sorry that&#39;s probably a few too many Q&#39;s. :-)Vnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-91685061420036875272010-03-12T14:49:31.979-08:002010-03-12T14:49:31.979-08:00Hit re-set, and start again!Hit re-set, and start again!Blurtmanhttps://www.blogger.com/profile/04997520846655923035noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-6290226682475813792010-03-12T12:06:00.065-08:002010-03-12T12:06:00.065-08:00Amazing ongoing work, GW! We have answers right i...Amazing ongoing work, GW!<br /><br />We have answers right in front of us: our political &quot;leaders&quot; and banksters are in collusion to enable embezzlement of literally trillions of our dollars. Yes, we should stop doing this :)<br /><br />The structural changes to banking and finance are simple: <br />1. Stop casino capitalism of all non-productive futures gambling.<br /><br />2. Convert the power of credit away from banksters and for the public with state-owned banks to minimize interest costs and create public profit rather than private bankster profit. North Dakota has a budget surplus; one of two states and largely from having the nation&#39;s only state-owned bank.<br /><br />3. Nationalize the Fed, which is the banksters&#39; pinnacle bank. The nation should create a MONEY supply, not its current DEBT supply. Direct creation of money for public goods and services can create full employment when the government is the employer of last resort for infrastructure, if this causes inflation it&#39;s an efficient tax (Milton Friedman envisioned zero inflation if infrastructure value exceeds cost), it ends the national debt by paying it rather than rolling it over, and we have the benefits of full employment, infrastructure creation, and the most efficient taxation system to pay for it.<br /><br />Benjamin Franklin is the earliest American to write of these benefits, and many of our brightest historical minds concur.Carl Hermanhttp://www.examiner.com/x-18425-LA-County-Nonpartisan-Examinernoreply@blogger.com