Sorry, I was not clear. When I said printing money, I meant without being backed by bonds. I know that would be monetary suicide. Not a direction I recommend, just saying our government, the elected officials and the implementing machinery, have not left themselves many options. But you are right, all of that machinery represents us. With each election the winners are the ones promising the most. I get pretty upset by the demands for bigger and bigger government. Governments are by nature not interested in being smaller, lean efficient operations.holsgo wrote:The term "printing money" (which is actually the government using bonds to create the debt it has) is not inflation but a tool to combat deflation. The problem lies everywhere not the fed necessarily. From the debt Bush inherited then increased via a war. To the collapse that Obama inherited and the Fed has tried to stimulate its way out of. All of this is the government debt including every Social Security check, medicare medicaid payment and assistance to every broke state. The Fed didn't start the problem....the american way of government spending and american expectations of govt programs did. Most cuts will hurt badly, retired, working, bankrupt etc...it will be painful.
I have enjoyed sparing with you, but plan to give it up. We both want a stable monetary system. We differ on our views of inflation's impact. I wish I knew a solution to the many problems we face as a nation (and a ways to get them implemented). I also wish I had the knowledge to suggest/implement a change to our society's 'something for nothing' mentality when electing officials. I do not have the solutions:(
