Not any immediate and violent ones. The conventional wisdom around printing money is it causes inflation, but I think if you're the USA's treasury secretary there's probably a thousand different incentives and consequences beating down your door.
If the end conclusion is that the US just can make the printer go brrr because they have the largest standing army on earth, and not due to any real monetary considerations, I'd say that's pretty telling
the consequences of inflation aren't imaginary. It's in the same way if you think God's not real you can make that case but that doesn't mean the people who died for impiety are actually still alive. Because the people who manipulate the economy on top can have their worst debts bailed out and constantly have more investments, inflation doesn't affect them negatively, but actually positively because they can pay off loans easier with increased cash flow compared to when the loan taken. So, because the mechanisms at the top are now increasing their intake of cash without returning more cash to the economy, increased prices only target those at the bottom of the economy. This could be manipulated by raising the minimum wage, forcing money to move down from the top to the bottom, or by fixing prices, mitigating the effects of inflation. However, both of those result in lower profits(not none or negative, but lower) for those at the top, and they finance campaigns, so the state will not act against those interests and will allow inflation to hurt only the bottom.
It's not my area of expertise either, but people whose takes on this I respect seem to indicate that it would be catastrophic for the US to violate its debt ceiling (and therefore it's a good idea to get rid of the debt ceiling altogether).
Printing money you can probably just do although try to tax it back at some point.
She's talking about the debt ceiling. They can print more if Congress raises it.
Would there actually be any adverse economic consequences of doing that? This stuff is definitely not my domain
I'm pretty sure it just exists so Republicans can threaten to self-destruct the government if they don't get their tax cuts or whatever
Not any immediate and violent ones. The conventional wisdom around printing money is it causes inflation, but I think if you're the USA's treasury secretary there's probably a thousand different incentives and consequences beating down your door.
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So made up?
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If the end conclusion is that the US just can make the printer go brrr because they have the largest standing army on earth, and not due to any real monetary considerations, I'd say that's pretty telling
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Okay but I would genuinely like to hear your view on this, so if you decide to keep posting, I will certainly read.
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the consequences of inflation aren't imaginary. It's in the same way if you think God's not real you can make that case but that doesn't mean the people who died for impiety are actually still alive. Because the people who manipulate the economy on top can have their worst debts bailed out and constantly have more investments, inflation doesn't affect them negatively, but actually positively because they can pay off loans easier with increased cash flow compared to when the loan taken. So, because the mechanisms at the top are now increasing their intake of cash without returning more cash to the economy, increased prices only target those at the bottom of the economy. This could be manipulated by raising the minimum wage, forcing money to move down from the top to the bottom, or by fixing prices, mitigating the effects of inflation. However, both of those result in lower profits(not none or negative, but lower) for those at the top, and they finance campaigns, so the state will not act against those interests and will allow inflation to hurt only the bottom.
If the past decade plus has taught us anything, no one has a real handle on what exactly inflation says about the economy
As far as individuals go, they should just HODL, as the kids say
its only bad if 'poor' countries do it.
It's not my area of expertise either, but people whose takes on this I respect seem to indicate that it would be catastrophic for the US to violate its debt ceiling (and therefore it's a good idea to get rid of the debt ceiling altogether).
Printing money you can probably just do although try to tax it back at some point.