The easiest way to cut deficit spending is to cut debt service. This can be done by moving Mohammed to the mountain (Mosler’s suggestion to lock interest rates at 0% and issue nothing longer than 3-month T-bills). or by moving the mountain to Mohammed (just take debt service off-budget by paying for it w/ the trillion dollar coin). In either case, the Fed can still control monetary policy by adjusting capital, reserve and downpayment/margin requirements.Monetary Realism
Just a reminder of the budget deficit’s low-lying fruit
beowulf
1 comment:
How about throwing Jamie Dimon and his cartel crimminal partner in jail, Dimon's organized racketeering crimminal london whale ripoff, ARE U NUTS? Does the US attorney general have to be run over by a truck? The senate report is ripe with many many law violations, and headlines 12 minutes apart JPM is buying back stock and paying dividends, ARE U NUTS? Bernanke is giving these assholes fungible monetary handouts and they are using them to enrich themselves, how can anyone talk about a central bank operation when the whole cesspool is about to collapse? Clean out the pipes and start over again before talking seriously about how the central planners are doing gods work!
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