Thursday, January 8, 2009

Print More Money!

Britain's economic solution: Print More Money!


Read about it here.

9 comments:

Douglas Porter said...

Printing some money is not such a bad idea if the stimulus creates a money flow. If it is done repeatable it will hasten the collapse of the dollar.

Josh said...

Where does the central bank derive is moral authority to debase an individual's savings?

Douglas Porter said...

Failure of the free market and a mandate from those who lost their jobs.

Josh said...

"Failure of the free market and a mandate from those who lost their jobs."

So these individuals should find a way to produce something on their own. Their inability to do so does not provide the FED with the moral authority to steal.

Try again.

Douglas Porter said...

"So these individuals should find a way to produce something on their own. Their inability to do so does not provide the FED with the moral authority to steal.

Try again."

Printing money is printing money. It's not stealing. Would you like me to post the definition of "steal" to prove my point?

Those individuals should demand that the free market be controlled through protectionist policies and wealth redistribution.

Josh said...

"Printing money is printing money. It's not stealing. Would you like me to post the definition of "steal" to prove my point?"

Its counterfeiting wealth and debasing the value of individual savings, which, from a moral perspective is considered fraud, and yes, its also stealing. Its taxing people who save without even legislating for it.

Douglas Porter said...

"Its counterfeiting wealth and debasing the value of individual savings, which, from a moral perspective is considered fraud, and yes, its also stealing. Its taxing people who save without even legislating for it.'

Considered fraud by whom, Josh? The people who allow the FED to continue?

And, no, your libertarian perspective is in no way "moral". Morality has to do with how you treat other people. Libertarianism fails this test in so many ways its not funny. Libetarianism is a political ideology, not an ethical theory.

Josh said...

"Considered fraud by whom, Josh? The people who allow the FED to continue?"

Just because its allowed to occur, doesn't mean its any less criminal.

People allow for war, but war is still criminal.

"Morality has to do with how you treat other people."

Liberty is the most moral in that it allows individuals to live as they wish as long as they do not infringe on the rights of others. Liberty respects individuals and their choices.

There is nothing moral about the authoritarianism that you espouse.

Douglas Porter said...

"Just because its allowed to occur, doesn't mean its any less criminal."

Criminality is by definition based on the law. You meant "immoral"/"unethical".

"Liberty is the most moral in that it allows individuals to live as they wish as long as they do not infringe on the rights of others. Liberty respects individuals and their choices."

Yup, liberty does that. Unfortunately, liberty and the wage earner/owner dynamic are not the same thing.

"There is nothing moral about the authoritarianism that you espouse."

It is not authoritarianism. It's republican rule.