Pleased to report to any and all holders of scurio currency, that the scurio policy of a free range unlimited upside to the creation of new scurio currency units is gaining ground in the US.
The point at which government debt has to be restrained is the subject for an emerging debate in US. According to Does debt matter? It doesn’t until ... it does Does debt matter? It doesn’t until ... it does by Feb 22, 2019 By Caroline Baum “It has become fashionable in recent months for economists to argue that the nation’s growing public debt is not a problem but something to be, if not exactly embraced, then at least not avoided.” The talking down of US debt is in the context of the Congressional Budget Office projecting a $900 billion deficit in fiscal 2019 and an increase in publicly held debt to $16.6 trillion, or 78% of gross domestic product, double what it was in 2008.
The piece concludes with a glancing reference to the possibility that there may be an element of political opportunism in talking down US government debt, and that this time it is different. With Modern Monetary Theory and for governments that issue their own currency, they can just print money to finance spending and investments, constrained only by inflation.
This news could be damaging for the Euro which is still stuck with its old fashioned ideas about some limits to printing new money.