I think it is Milton Friedman who has advocated a constant, slow increase in the money supply, geared to the long term growth rate of the economy. That would would be a direct issuance that shouldn't have a debasing effect.
Exactamento - that's what needs exploration. Amusingly, while introducing Greenspan at a conference, MF said his greatest compliment was: "other than a computer, you're the best Fed chairman ever"... LOL!
It's just the idea of using better instrumentation for management, rather than even the best-intended over-convoluted and outdated human institutions, full of self-interested secretive participants. (like the HomeLand Defense w. an extra $37b obfuscatory funding, rather than stripping the deadwood and criminal leadership from bloated intel agencies)
MSI doesn't stand for "Milton Friedman", does it?
LOL! I've had the pleasure of talking w. him, but afaik he's not on the net, says he's "too old" for such things at age 90, meanwhile still showing up occasionally on tv, most recently on Rukeiser
Re: reducing the debt -- a sinking fund makes no sense -- just announcing it as a desireable goal of gradual reduction over a long term, given sufficient prosperity and the kind of fiscal planning we saw under the prior administration. |
