Not BE Reread, yet it IS! (isn't it?)

[David Morris]

This last post made a very clear point that was neither vague nor a put
down (but somehow you have erased it from this response):

1. Our GDP is near peak right now.
2. High GDP growth tends to increase the value of money in circulation, for
reasons that are almost self-evident.

Whatever you think about QE, it isn’t “imaginary money,” or some slight of
hand con.  It is a Keynesian monetary strategy.  It may or may not be
effective, but that term is straight from a right wing playbook, meant to
invoke derision and fear.  It’s like saying that since you and I have to
operate with a balanced budget, so should the Federal government.

David Morris

On Fri, Nov 12, 2021 at 1:34 PM Joseph Tracy <brook7 at sover.net> wrote:

> Thinking the vast sums of QE have nothing to do with inflation sounds
> ignorant to me, but believe what you will. Your opinions hold little
> interest for me since you have no argument, only vague and unreasoned put
> downs.
>
>
> On Nov 12, 2021, at 10:41 AM, David Morris <fqmorris at gmail.com> wrote:
>
> A smorgasbord of an answer, there.  But calling qualitative easing
> “imaginary money” sounds jughead ignorant.  And I know you aren’t that, so
> I conclude you were just throwing around words, but, by doing so,
> devaluating whatever points you were trying to make.
>
> On Fri, Nov 12, 2021 at 10:20 AM Joseph Tracy <brook7 at sover.net> wrote:
>
>>
>> define “imaginary money.”
>>
>> Basically when money is released into circulation that has no
>> corresponding economic growth/new value. Many economists from different
>> political positions and economic biases have questioned the benefits of
>> Quantitative Easing as a solution to any and every sign of economic
>> faltering. Already China and other countries are pulling away from the
>> dollar  and Tbills as overvalued.  Tying up metals as markers of wealth
>> seems like a waste of gold, silver, whatever as highly useful and
>> decorative material. But people  around the world buy gold against
>> inflation and it works pretty well. Also indebting the tax base to ever
>> increasing military budgets is draining value from currency at a time when
>> ecological threats far far outweigh military threats.  Passive solar houses
>> and business buildings are a far better hedge against inflation than
>> truckloads of high tech weapons that lose wars.  Locally grown food and
>> locally made necessities the best hedge agains attenuated  fossil fuel
>> dependent supply lines.
>>
>> IMO Ignatius is fantasizing if he thinks Biden is going to challenge the
>> oil companies. Look at COP; look at the pipelines. The dollar = oil.
>> Food is grown with fossil fuels, delivered with fossil fuels, wrapped in
>> fossil fuels and converted into debt measured in fossil fuels.
>>
>>
>> On Nov 12, 2021, at 9:12 AM, David Morris <fqmorris at gmail.com> wrote:
>>
>> Please define “imaginary money.”
>>
>> Like, as opposed to gold or something?
>>
>> I can’t wait for this…
>>
>> David Morris
>>
>> On Fri, Nov 12, 2021 at 8:54 AM Joseph Tracy <brook7 at sover.net> wrote:
>>
>>> Maybe not price gouging but when goverment pumps tons of imaginary money
>>> into the economy it starts to lose value. Quantitative Easing was the
>>> phrase.
>>>
>>> > On Nov 12, 2021, at 7:12 AM, Mark Kohut <mark.kohut at gmail.com> wrote:
>>> >
>>> > Love in the Time of Web3, Pynchon is smiling when he saw that....
>>> >
>>> >
>>> > <https://twitter.com/mattyglesias>
>>> > Matthew Yglesias
>>> > @mattyglesias
>>> > <https://twitter.com/mattyglesias>
>>> > ·
>>> > 12m <https://twitter.com/mattyglesias/status/1459126609521295389>
>>> > Agree with Robinson — you can’t take the politics out of politics!
>>> Biden
>>> > should also investigate price-gouging and anti-competitive behavior by
>>> > retail gas stations and have the FTC ask if cartel-like behavior by oil
>>> > company shareholders is restraining supply.
>>> > --
>>> > Pynchon-L: https://waste.org/mailman/listinfo/pynchon-l
>>>
>>>
>>>
>>> --
>>> Pynchon-L: https://waste.org/mailman/listinfo/pynchon-l
>>>
>>
>>
>