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View Diary: Krugman: “Years of Tragic Waste.” (U.S. economic policy since '08: "...horrifying failure.") (255 comments)

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  •  Well, it would be stupid to "print" past the point (4+ / 0-)

    of the real economy working at full capacity, cuz then you'd be attempting to buy that which doesn't exist.

    Thus driving up prices for stuff that already does exist.

    Is this what you mean?

    If so, this is a completely different constraint than that under which households, businesses, states, and the Euro Countries work under.

    •  Gasoline is imported (0+ / 0-)

      A foreign government can refuse to allow a real item to exchanged for electronically conjured up American funny money.

      •  All governments are dealing in "funny money". (4+ / 0-)
        Recommended by:
        kyril, PlinytheWelder, ozsea1, lotlizard

        So, I'm not sure why Saudi Arabia might one day think America's fiat currency is any funnier than, say, The Eurozone's, Britain's, Russia's, China's -- their own "funny" money.

        What would NOT be funny money to you?

        Not that I agree with being reliant upon others for the necessities of life.

        Which means we should create a war time economy to create a green, self-sufficient, economy.

        How would we pay for it?  By creating more funny money, just like every government throughout history has done.

        Money is always everywhere a social relationship.

        What's so funny about that?

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