"When currencies compete, the superior currency gets hoarded. Spending is shorting (selling)."
Perhaps you are on to something Jerry. Maybe what we need to do is make currency something of zero subjective value to most people, like turds, so no one hoards them. Awesome way to incentivize spending eh?
I forget, are you a MMTer? I didn't think you ever disagreed with Krugman.
Note to self: don't schedule Ron Paul live on CNBC.
ReplyDeleteWhen currencies compete, the superior currency gets hoarded. Spending is shorting (selling).
ReplyDelete"When currencies compete, the superior currency gets hoarded. Spending is shorting (selling)."
ReplyDeletePerhaps you are on to something Jerry. Maybe what we need to do is make currency something of zero subjective value to most people, like turds, so no one hoards them. Awesome way to incentivize spending eh?
I forget, are you a MMTer? I didn't think you ever disagreed with Krugman.
:)