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Where the money come from?, page-127

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minerva

761 Posts.

18

13/04/20

15:15

Post #: 44016989
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Originally posted by moorookamick: ↑

I guess economic theories are fine until proven otherwise and short term money printing seems to be working OK for the USA.
The question is will it work for Aus and our Peso. We may think that we're as good as the Yanks but our Peso is far from being the Greenback !

It is fine for te USA to have printed 10s of Trillions and exported half of the outside their domestic economy and their issue should be how soon can they suck them back in via taxation should te Multinationals and the Chinese land the greenbacks back to the USA

MMT prescriptions of:

-budget surpluses
-banking credit squeeze
-trade deficits
-extra taxation

to suck back the surplus greenbacks
wouldn't do the US GDP a favour, IMO.

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Given Australia's much higher exposure to trade and much higher proportion of currency flows due to speculation, I can well imagine that a currency sentiment change could be savage.
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