No auckshully you got it right the first time <g> This is really no more than an over(indulgence) so to speak (in the punage tongue):
http://en.wikipedia.org/wiki/Indulgence ...and thus is about as canonical as it comes from big-gov... As you may know from DVC (really Holy Blood, Holy Grail) the selling of indulgences has over-extended many a good conspiracy theory.... Jones BTW - The prior experience with this particular remedy - which arguably makes it non-inflationary is the New Deal. Time will tell if BO can pull it off in that exact way, since we are not in the same circumstances (yet) ... but that is where good "policy" comes in. Instead of inflation, I would look for taxes on commodities to keep demand in check. This could be a several $$ per gallon tax on OPEC oil combined with tax support for bioethanol. Keeping those $$ at home, in the pocket of the American farmer, can make ALL the difference in avoiding the dreaded inflationary spiral. The teaching there (New Deal) is that huge additions to the money supply are OK so long as demand is not pushed too far. There is a counterpoint, and a phase shift just like in music - between the supply of money and demand for goods that can be delayed by many years with the proper policy. And come to think of it that counterpointing is another pun on "canon". In music, a canon- like the famous one by Pachelbel - is a contrapuntal composition that employs a melody with one or more imitations of the melody played after a given duration (e.g. quarter rest) ... ERGO ... one might opine that if BO can compose like a Master, as it were ... then his merry Fugue-sters can delay that demand-push-inflation for several years by separating cause and effect - for the proper amount of time necessary to increase supply ... ________________________________ Stephen A. Lawrence wrote: > > Printing money is the last and largest "canon" .... Er, "cannon". My spell checker thought it was just fine...
