Saturday, February 2, 2013
Paul Krugman : No Debt Crisis, We Can Just Print Money
Responding to House Budget Chairman Paul Ryan's warning that if the federal government continues to run annual $1 trillion deficits we will eventually face a debt crisis, liberal economist and New York Times columnist Paul Krugman said Wednesday that that is not a legitimate worry because the U.S. government can always print money and weaken the buying power of the dollar.
“The United States is a country that has its own currency--can’t run out of cash because we print the money. If you even try to think what would happen--suppose that investors get down on the United States. Even so, that would weaken the dollar, not send interest rates soaring, and that would be good. That would help our exports,” said Liberal economist and New York Times columnist Paul Krugman
Krugman does not seem to understand that the US already risks hyperinflation and once that starts it is very hard to stop. It is far better to try to prevent it.
ReplyDeletehttp://howfiatdies.blogspot.com/2012/10/faq-for-hyperinflation-skeptics.html
the problem is the interest, not the money. Its debt-money slavery. We can print money out of thin air instead of the "Fed" doing it and charging us interest to create our own money! Only with a public central bank can we escape ruin by debt-money interest and the rule of our society by banksters.
ReplyDeleteKent Welton,
PublicCentralBank.com