Stagnation is gripping several of the world’s largest economies and many view this as secular, not transient. This column argues that many economies need both demand-side stimulus and supply-side reform to close the output gap and restore potential-output growth. A combined monetary-fiscal stimulus – i.e. helicopter money – is needed to close the output gap, and this should be accompanied with extensive debt restructuring, policies to halt rising inequality, and additional public infrastructure investment.
We have done this five time in US history, countless times in Europe and China. What we have is standard procedure for central banking. It will happen, and unless we adjust technology, these bozos will drop the dough-re-mi on the wealthy.
Millenniums get you smart card, now.
Millenniums, you have to push for the Smart Card technology now, before the drop. The only thing that will save you is a counterfeit proof banker bot in your pocket. The banker bot will optimally shift you deposits and credit among the various currencies and maintain a guard barrier around your account at all times.
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