Mike Norman: QE Has Removed $425 Billion Worth Of Interest Income From The Economy

[llanlad2]

Re: Mike Norman: QE Has Removed $425 Billion Worth Of Interest Income From The Economy

Maybe so, but it wouldn't be legal if these guys didn't have highly placed friends in the federal government. Play the left/right game if you want, but it's a diversion.

It's not me that's re-writing history to attain a political goal. Or diverting people's attention. Nor am I playing any sort of left/right game. I am pro-capitalist. It's the free-market MONOPOLISTS who are succeeding with the diversion by having anyone who disagrees with their policies labelled as some sort of nutty socialist. I find this offensive.

If you adopt a free-market, every man for himself, self-interest is the only morality style of capitalism then of course you will end up with corrupt officials in government. It would be immoral not to. The present government and those of the last 20 years have been swayed by neo-liberal ideas/policies sponsored in the private sphere by mostly self-interested rich individuals disguised as legitimate foundations.

The time to raise interest rates is now. We could just as easily wrote down debts to the rental values to do this. Then no real cash flow problem would exist. We don't need nor do I particularly want more bank credit. If banks effectively created money for industrial production then low interest rates would create enough supply . Since they tend to do nothing but make loans against assets we may as well just create the money as a public utility. The only time bank money gets around to goods and services is when people actually spend the money which has no attachments to the actual loan process. So what is the point? Just run deficits particularly by untaxing labor and industrial capital. The high intrest rates would end the asset price bubble as well which keeps getting bloated beyond their real market values.

Agreed.