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View Diary: David Stockman calls bullshit (21 comments)

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  •  Then just giving people money does not have any (0+ / 0-)

    long term benefit except in China but it does create a deficit which we will have no long term way of paying for.  Give people jobs that matter and it will  create long term demand and heal the economy.  

    •  Ahh, the "paying for it" worry (0+ / 0-)

      If the Fed prints money and gives it to you, what's to pay back? The Fed makes money, that's their job.

      As for $ going to China, thats just plain wrong. Most economic activity in the United States is, not surpringly, in the United States. The beneficiaries of US economic well-being are primarily Americans.

      In 2012 the US GDP was ~$16T, our trade deficit was ~$540B.

      •  Then all deficits are fictitious in your (0+ / 0-)

        estimation so why bother to keep track, why bother to tax, just let the FED print money and see if our creditors will accept our currency without a serious fiscal policy.  Better yet, instead of the FED printing money just give everyone a printing press and let them go to town since it doesn't matter(in your universe).

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