Posted To Mish Shedlock’s Blog 03/21/2024

There are things in the bill which are not needed. Having said that government deficits are necessary to avoid recessions/depressions. Read Steve Keen with an open mind for enlightenment.

The only way you’re going to get any of the wish list of business is to lobby for the policies of a new monetary paradigm that doubles the potential demand for every enterprise’s goods and services without them incurring additional costs, and in fact enables them to reduce their tax costs tremendously. Do this or prepare for more of the same idiocies and orthodox delusions.

H: Recessions and depressions are ordinary and actual parts of a normal and healthy economic cycle/economy. Stop spreading any other bullshit but that!!!!

Me: Thats just orthodoxy within the present paradigm. There will be “creative destruction” with the new paradigm which will enable much more competition and innovation. The difference is the individual and commercial pain will be nil compared to now despite the cleansing of malinvestment.

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Me: Sanders is stuck in the socialist mindset.There is a better capitalist way to double the purchasing power of everyone which will not cost enterprise a penny in increased cost.

Money is created by either the banks or the treasury simply with accounting entries. You know that Mish because you said you learned things fron Steve Keen and he has proved that to be true. The Bundes Bank and Bank of England have also confirmed this fact.

So if you implemented a policy of a 50% Discount at retail sale, and the monetary authority rebated the entirety of all discounts back to the merchants giving it to consumers their purchasing power would mathematically double and demand would consequently potentially double for every enterprise’s goods and services.

The merchant would simply open a T-account labeled Retail Discounts and the monetary authority would open an account labeled Thus and So’s Discount Rebates and all of the debits and credits will sum to zero and everybody gets their full price and the benefits of the policy. A few other carrot and stick policies to solidify and stabilize the new paradigm.

You can bemoan stupidities and hold onto orthodoxies on the left and the right, or you can beneficially solve problems and have more prosperity than you previously thought possible.

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