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Comment Re: Crrot and Stick (Score 2) 109

Haha, remember when everyone said QE was just temporary and the Fed balance sheet would be drawn back down to pre-2008 levels? Is it too soon to call that widely-made prediction wrong, 17 years on with the balance sheet still at $6.5 trillion and growing again?

When will armchair economists give up their zero-sum thinking about money? Where did that $6.5 trillion come from? Does it cause cognitive dissonance to say "thin air"?

And if the Fed can increase base money from less than $1 trillion to $6.5 trillion, or 650%, is there a gain in purchasing power since inflation over that period is nowhere near 650%? So why not print money for a strong basic income and index incomes to inflation, i.e. keep doing what they've been doing (printing way faster than prices rise) but distribute new printed money directly to individuals?

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