Wednesday, October 3, 2012

Solution to the debt problem

See American Dream Has Become a Myth – Stiglitz in Der Spiegel.

Given that we are in QEternity and ZIRP Into Perpetuity, and that the infrastructure of the US is crumbling, our schools are a mess, our teachers so abused that hardly anyone with half a brain would ever consider becoming one, and given the self-evident truth of Modern Monetary Theory that if you put slack to work in productive ways that exceed the cost of printing the money to do so, then it is obvious what Timmy and Ben should put their empty crania together to do--

Let the Treasury issue Zero Coupon Perpetuities!  Let the Fed buy them!

Problem solved!

Women pose for photos near a homeless man during New York Fashion Week this month.

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