On Wed, Mar 16, 2011 at 8:50 PM, Jim Devine <[email protected]> wrote: > maybe by printing Yen, they could drive down the exchange rate, > helping Japan's exports.
But why would they want to encourage exports right now when they need all their productive resources to rebuild the country?? But all of this is beside the point. Maybe there is enough slack in the Japanese economy to print money and not create inflation. Maybe now. If not, the Japanese government can always sell bonds instead. The point is that the Japanese government (unlike say the Irish or Spanish governments) has a nearly unlimited ability to raise all the cash it needs right now. Given this undisputed and widely known fact, why do so many USAians insist on donating money to Japan?? I think this is a symptom of the mass psycho-pathology involving the reification of money: sure there are some things that money can't buy, but these are usually the frivolous sort of things that can be put into one of those popular Mastercard commercials! Marxists can correct me, but isn't this a classic example of the kind of fetishism that Marx talked about? -raghu. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
