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Pittsburg, Kansas | He is right in that a soverign government with debt issued in its own currency can always print its way out.
But it eventually destroys the currency, as each round of printing devalues the existing currency supply. It is nothing but a hidden tax on those least able to absorb it. Statistics can be monkeyed with for a time to hide it. Technology and manufacturing efficiencies for a while can help hide it. Cheap foreign labor for a while can help hide it.
But you are right. Eventually the piper has to be paid. In the mean time the wealth inequality gap continues to widen.
The perpetual motion machine, something for nothing, and free money are still just pie in the sky for the misinformed.
John
Edited by John Burns 12/13/2017 11:10
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Financial sector expansion.
