Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pater tenebrarum who wrote (4381)	6/6/2001 11:51:42 PM
From: Maurice Winn	Read Replies (3) of 74559

<Once a money is established, an increase in its supply confers no social benefit.> Since the USA government owns the printing press and so do other countries own their printing presses, when they print more money, the government is the one which gets to spend it. Since governments are by definition 'social benefit' [whether one agrees with them being socially beneficial is another matter, but that's what they are supposed to be], them spending the money on socially-desirable things, [which is what elections are to ensure], does in fact confer social benefits. Printing more money is another form of taxation and taxation is considered to be socially beneficial [by voters who vote for it - which is the majority]. Governments can hijack the productivity boom by printing more money while boasting that there is no inflation. There should be deflation, but they ensure they print more and more to avoid deflation. That's why you can be sure that stock markets will continue a permanent increase [with the usual downdrafts on the way]. Mqurice

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