we got a deleveraging mania underway
and benjamin FED is fussin and fumin..behind closed doors
seems
".. debtors, as a group, are trying to deleverage too fast, ..
the collective rate at which they are trying to pay down debt
isn’t feasible given the zero lower bound on interest rates"
ben
"can’t get real interest rates low enough to induce
sufficient spending on the part of those not deep in debt."
meet johnny fisc
benjamin fed's side kick....
" ... the role of fiscal policy: is not to stop aggregate deleveraging
— the public sector doesn’t have to run up debt as quickly as the private sector runs it down —
but to slow the aggregate deleveraging rate down to a pace
that can be accommodated by monetary policy."
maybe ...maybe
but why ?
why go thru the corporate investment channel or for that matter
why use any of the eight fold way credit channels ?.... or is it nine fold way ?
you got a transfer tax and payment system in place set it up to stablize the system
rapidly
carefully designed
then democratically evaluated
okay might need a few iterations
so what
nothing could be faster or as fair
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