Ed,
But governments don't print money "recklessly"! Whoever said they did?
Certainly not me.
Governments print money carefully. In recent years the Fed and the BoE have
been printing more than would be strictly justified (productivity alone) in
order to make sure that their central bank rates are always less than
inflation.
For an interesting discussion of this by one of the most respected US
economists, Carmen Reinhart, read the following converstion:
http://www.spiegel.de/international/business/interview-with-harvard-economist-carmen-reinhart-on-financial-repression-a-893213.html
Keith
At 16:30 12/04/2013, you wrote:
Undoubtedly, if money were printed recklessly and in large quantities, the
result would be runaway inflation. But what modern central bank is going
to do reckless printing? Not likely any. Modern central banks don't
behave that way. Typically, the money supply rises gradually and
inflation is a gradual process, rising by two or three percentage points
per year at the most. In Canada, a basket of goods purchased for $100 in
2003 would cost about $120 today. This poses no problem for people who
have managed to keep their incomes growing at a rate equivaletn to
inflation, but it is hard on people who rely on incomes that do not change
or change only slowly. It therefore is a factor in the growing gap
between the high incomed and the low incomed.
Ed
----- Original Message -----
From: <mailto:[email protected]>Arthur Cordell
To: <mailto:[email protected]>'RE-DESIGNING WORK, INCOME
DISTRIBUTION,EDUCATION' ; <mailto:[email protected]>'Keith Hudson'
Sent: Friday, April 12, 2013 10:52 AM
Subject: Re: [Futurework] Gelt
Krugman
But the runaway inflation that was supposed to follow reckless
money-printing inflation that the usual suspects have been declaring
imminent for four years and more keeps not happening.
Me
Stay tuned.
From:
<mailto:[email protected]>[email protected]
[mailto:[email protected]] On Behalf Of Ray Harrell
Sent: Friday, April 12, 2013 1:36 AM
To: 'Keith Hudson'; 'RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION'
Subject: Re: [Futurework] Gelt
<http://www.nytimes.com/2013/04/12/opinion/krugman-lust-for-gold.html?hp>http://www.nytimes.com/2013/04/12/opinion/krugman-lust-for-gold.html?hp
REH
From: Keith Hudson
[<mailto:[email protected]>mailto:[email protected]]
Sent: Thursday, April 11, 2013 11:27 AM
To: RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION; Ray Harrell
Subject: Re: [Futurework] Gelt
The NYT article is all very glib and I'm sure a lot of readers will be
encouraged to sell their personal gold. If there was any clear logic in
the article it's to be found at the end with what Peter Schiff says.
Keith
At 14:29 11/04/2013, you wrote:
According to the Science Channel, the Ancient Astronauts no longer need
gold to run their space ships.
REH
<http://www.nytimes.com/2013/04/11/business/gold-long-a-secure-investment-loses-its-luster.html?hp>http://www.nytimes.com/2013/04/11/business/gold-long-a-secure-investment-loses-its-luster.html?hp
_______________________________________________
Futurework mailing list
<mailto:[email protected]>[email protected]
https://lists.uwaterloo.ca/mailman/listinfo/futurework
----------
_______________________________________________
Futurework mailing list
[email protected]
https://lists.uwaterloo.ca/mailman/listinfo/futurework
_______________________________________________
Futurework mailing list
[email protected]
https://lists.uwaterloo.ca/mailman/listinfo/futurework
_______________________________________________
Futurework mailing list
[email protected]
https://lists.uwaterloo.ca/mailman/listinfo/futurework
