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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (756725)12/9/2013 3:28:20 PM
From: Bilow  Read Replies (1) of 1574614
 
Hi mindmeld; Re: " It is because I read extensively and am aware of economic history that I am trying to inform you that NEVER in history has a nation embarked on money printing and escaped the absolute economic devastation that comes from it."

Very true, but it's a fact that we left the gold standard decades ago and have been printing money ever since. This is a fact whether the Feds do quantitative easing or not. So it doesn't read on the discussion of whether quantitative easing is a good idea or not.

Like I said before, the whole QE argument is basically one of "easy money" versus "hard money". This is not a new argument. This argument has been present throughout the economic history of capitalism.

Quantitative Easing isn't anything new. The government *always* tries to ease money when there's a financial crisis. This is not some new fangled approach to the problem of depressions. It's been the approach for hundreds of years.

And having depressions last a decade is not something that the Democrats just invented. Severe depressions have *always* lasted a decade or so. Anything less is just a "panic". You can't blame the sun for rising in the morning and you can't blame the Fed for the fact that we're in a depression. The whole world is in it. The whole world has been in them every 50 years or so since long before the Federal Reserve was even thought about.

But hopefully we'll be out of it by the time the Republicans take power, say by 2018 or so, and we won't be blamed for digging the depression deeper through an attempt at applying morality to money.

Obama sure is looking like a sorry attempt at replicating the electoral success of FDR.

-- Carl
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