Two weeks ago, when looking at the record plunge in the European five-year forward five-year inflation swaps, a measure of expectations for price increases in coming years, which had dropped to 1.1385%, far below the ECB’s target of 2%...
When Ben blamed the central banks for the GD, he promised that we learned our lesson, we won't do it again.
What does that imply folks? It means Ben intends that the double entry accounting system will not be adjusted. Mathematically that is a promise for an indefinite debt deflation.
Ben also said we need a helicopter. What was going on with Ben? Why the contradictory views?
He had no theory at the time, he had no clue about the cyclic cost of the Right to Coin. Couldn't step out of the box, failure to complete the idea. Well, the mathematicians completed the idea for him, and we have concluded that MMT comes once a generation.
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