>On the other hand, cutting expenses (as you seemed to be suggesting in another comment) is not the solution either. Remember how we got in this mess in the fir

>On the other hand, cutting expenses (as you seemed to be suggesting in another comment) is not the solution either. Remember how we got in this mess in the first place: Depends what you mean by 'this mess' if this mess is a high level of debt without the productive economic activities to service it, I'd suggest that it was by spending too much on things that didn't provide a return on investment. >They will effectively create the money –fractional reserve banking and such. No, that is not fractional reserve banking, in fact what would happen if they did just print more money? Lets pretend they could do it without breaking away from the euro. Inflation would rise sharply? Would that lead to a better economic situation? Some people say it does, hence the UKs policy on QE. >If we had borrowed from our central bank instead of Rothschild&co, our current debt would have been only 20% of what it is now –well, assuming we didn't borrow even more. That is just a gross oversimplification, and really Rothschild&co? What are we, angry I learnt economics from youtube socialists? >start borrowing from the central banks at nearly 0% instead. Historically, this action hasn't worked well. Ultimately they have debt obligations as is, they need to settle that with something, where would that something come from? They could deflate the debt, which would be the effect of creating a synthetic entity which would loan at 0%. To deflate this much debt would seriously hurt people. They could potentially try and bond default, Russia kinda got away with it (some people say it was a good idea), but then Argentina really showed the problems that can happen doing this. This is why people come down to taxation and spending, ultimately they are the only options, because any kind of inflationary policy is a cruel tax, as it is often felt more by the poorest, due to the commodities which tend to rise. Meanwhile the super rich can make money of the back of it and even increase their worth leveraged thanks to the inflation bonds and the like.