Essential Economics for Politicians

Number Five: In the same vein, you have no doubt heard reference to “helicopter money.” This is a variant of QE favored by certain politicians who talk blithely about the need for “QE for the people.” The idea is to by-pass the treasury mandarins by dropping newly printed money directly to the people via government spending, so that they (rather than the already-rich classes) can benefit from the bonanza and aid the economy by spending their new-found wealth. Again, this notion commits the fundamental error of equating “money” and “wealth.” If everyone suddenly finds that free handouts have swelled their bank accounts, how long will it be before prices follow? (And since even helicopter money originates at the central bank, you can be sure that the financial sector willsomehow get its hands on it first anyway!)
 
There is in all of us a strong disposition to believe that anything lawful is also legitimate. This belief is so widespread that many persons have erroneously held that things are "just" because laws make them so. Thus in order to make plunder appear just and sacred to many consciences, it is only necessary for the law to decree and sanction it.--Frederic Bastiat writing on government-sanctioned counterfeiting: 1. governmentpaper money and fractional reserve banking
 
Bruddah IZ said:
Government actually abrogates contracts. An example would be the 6 straight years of QE under Obama.
Click to expand...
What contract was broken when the administration loosened the money supply to successfully avoid another Great Depression?
Please recite the parties to the contract and the plaintiff's efforts, presumably through legal action, to enforce it.
 
messy said:
What contract was broken when the administration loosened the money supply to successfully avoid another Great Depression?
Please recite the parties to the contract and the plaintiff's efforts, presumably through legal action, to enforce it.
Click to expand...
There is in all of us a strong disposition to believe that anything lawful is also legitimate. This belief is so widespread that many persons have erroneously held that things are "just" because laws make them so. Thus in order to make plunder appear just and sacred to many consciences, it is only necessary for the law to decree and sanction it.--Frederic Bastiat writing on government-sanctioned counterfeiting: 1. governmentpaper money and fractional reserve banking
 
messy said:
What contract was broken when the administration loosened the money supply to successfully avoid another Great Depression?
Please recite the parties to the contract and the plaintiff's efforts, presumably through legal action, to enforce it.
Click to expand...
I am bumping this question.
No contract was broken? You just lied? And you weren’t even responsive to Laced’s accurate point about contracts? Not the sharpest tool in the shed, are ya’? Are you mad because you can’t get a private sector job?
 
messy said:
I am bumping this question.
No contract was broken? You just lied? And you weren’t even responsive to Laced’s accurate point about contracts? Not the sharpest tool in the shed, are ya’? Are you mad because you can’t get a private sector job?
Click to expand...
Easy bumpy. This is probably above your understanding. Hence your question....
 
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