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> COVID stimulus showed how the lubricant for a globalized socialism was the monetary printing press. Economic stimulus comes from taxes and bonds, not from pr
by mleonhard 4y ago
> COVID stimulus showed how the lubricant for a globalized socialism was the monetary printing press.
Economic stimulus comes from taxes and bonds, not from printing money. This is a grave error that casts a pall over the entire article. I stopped reading.
- StuntPope 4y agoTax revenues don't cover it, which is where trillion dollar deficits come from. Those deficits are filled in by bond issues. Those bonds have been increasingly monetized by the Fed: https://fred.stlouisfed.org/series/FDHBFRBN https://fred.stlouisfed.org/series/FDHBFRBN This known as "Quantitative Easing" - which is printing money.