19
Oct
2013
If You’re Not Outraged, You Haven’t Been Reading Scott Sumner’s Blog
This post title is misleading, but I couldn’t think of anything wittier. Scott Sumner calmly discusses reflections from Miles Kimball and says this:
In another paper, Kimball spells out the credit policy in more detail. It might involve the government giving each American a credit card with a $2000 credit limit. This is certainly better than fiscal stimulus, but still falls far short of the efficiency of monetary stimulus.
Now to be fair, Scott classifies this idea as “the bad,” while level targeting of NGDP is “the good” and fiscal policy is “the ugly.” Still, when somebody discusses the idea of the government giving each American a credit card with a $2000 limit, I think this is the only permissible reaction.
I thought we already had the helicopter drop analogy.
If they issue these credit cards can I have my credit limit raised every year like the government does? And can I make interest only payments like the government does?
And can I get the same rate as the government does?
But wouldn’t it be better than bailouts and special interest giveaways?
From here on out, these socialist will spend all their time chasing their tales. What a cluster duck they have created. Do they not realize how dizzy they have become?
I have unilaterally decrelad I have the book and movie rights to the Scott Sumner Story. Seriously, I would like to write the book on Scott. A guy by his computer, helping to shape global macroeconomic policy what a story/
Psychos