3 ms·
It's ok if implementation of such money printing exercise is more surgical than broad based. But I don't think this is the time to bring undue complexity of deb
by zxienin 7y ago
It's ok if implementation of such money printing exercise is more surgical than broad based. But I don't think this is the time to bring undue complexity of debating which business model deserves to be propped. This will misdirect lot of debate/energy.
My view is that tail end concerns here are largely theoretical.
we fall in the trap of such argumentation, when reality needs immediate response.
> if we haven't seen the worst that's to come with the coronavirus
If humanity can't come up with working measure/vaccine in next 1-1.5 yr time frame, global economy is the least of concern.
> Throw even more money at the problem? While we are at it, why don't we just print money forever and pay everyone's salary - where do we draw the line?
This is an unwarranted extrapolation of opening premise. Who argued forever?
- smarri 7y agoThanks, this is worth debating. Is this QE surgical rather than broad based, I can't see how it's precise and not broad? We can avoid the debate of which businesses need propped up by not propping any up. Yes an immediate response is required, but some consideration should be given to down-stream impacts. Agreed on the vaccine, but the worst to come could happen in the next 1.5 years, and if we've deployed trillions into the economy already, what's our next move? The extrapolation is my argument, if central banks can print money and pay wages now, why stop?