- 23 Jun 2018 04:50
#14926899
"During the great financial crisis, the central banks of the United States, United Kingdom and Japan created $3.7 trillion in order to buy assets and encourage investors to do the same. Michael Metcalfe offers a shocking idea: could these same central banks print money to ensure they stay on track with their goals for global aid? Without risking inflation?"
. . . . BTW, there are many who calculate just the US part of this as over $27T. Yes, $27 trillion.
I offer this TED talk as another data point to drive home the point that the GFC of 2008 showed that many trillions of dollars can be created overnight and inflation does not rise as a result. Why? Because the US (and the world) are not anywhere near to real full employment. His program for foreign aid is not my thrust, although it can be part of it.
. . . You can easily read the transcript if watching a 20 min. talk is not your style.
https://www.ted.com/talks/michael_metca ... t#t-815185
. . . . BTW, there are many who calculate just the US part of this as over $27T. Yes, $27 trillion.
I offer this TED talk as another data point to drive home the point that the GFC of 2008 showed that many trillions of dollars can be created overnight and inflation does not rise as a result. Why? Because the US (and the world) are not anywhere near to real full employment. His program for foreign aid is not my thrust, although it can be part of it.
. . . You can easily read the transcript if watching a 20 min. talk is not your style.
https://www.ted.com/talks/michael_metca ... t#t-815185