> It’s true that printing money isn’t at all inflationary under current conditions — that is, with the economy depressed and interest rates up against the zero lower bound. But eventually these conditions will end.
I think it’s safe to say that interest rates are no longer “up against zero.”
The adult option is to remove the debt ceiling legalisation, a peculiar American dumfuk idea designed to make them look stupid and score local political points.
But the better option is to just ignore the debt ceiling, carry on, and let the republicans sue. The law violates section 4 of the 14th amendment. It’s unconstitutional. The republicans are not negotiating in good faith anyways. They want the economy to collapse. Recessions are great buying opportunities for the wealthy to get wealthier.
Brjones17 says
How to tank the dollar 101… course material this.
Codebender says
> “People who really should know better constantly get this wrong, and imagine that the coin would be inflationary,” Krugman wrote
In his [2013 defense of this idea](https://archive.nytimes.com/krugman.blogs.nytimes.com/2013/01/02/debt-in-a-time-of-zero/), he wrote:
> It’s true that printing money isn’t at all inflationary under current conditions — that is, with the economy depressed and interest rates up against the zero lower bound. But eventually these conditions will end.
I think it’s safe to say that interest rates are no longer “up against zero.”
slipskinny says
I’m pretty sure Biden is not the one minting it.
scribblebear says
Sounds like something from an episode of the Simpsons… oh wait…
GetlostMaps says
The adult option is to remove the debt ceiling legalisation, a peculiar American dumfuk idea designed to make them look stupid and score local political points.
mrgreenw says
All I can think about is Ocean’s Twenty where someone assembles a team of burglars to steal the coin.
Gravity_X_2005 says
Why did they take a pic like he’s about to get a consentual paddling?
jsc503 says
Not oniony.
But the better option is to just ignore the debt ceiling, carry on, and let the republicans sue. The law violates section 4 of the 14th amendment. It’s unconstitutional. The republicans are not negotiating in good faith anyways. They want the economy to collapse. Recessions are great buying opportunities for the wealthy to get wealthier.
coberh says
> “In my experience, if you try to explain all this, people’s eyes glaze over—which is good! Hard to get outraged over something that baffles you”
MAGA-fools have surpluses of outrage, and they regularly target things they don’t understand.