Power of Story Send a Tweet        
- Advertisement -
Diary

Greenbacks from Margin to Middle

By   Follow Me on Twitter     Message Robert Cogan     Permalink

Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; , Add Tags  (less...)  Add to My Group(s)

View Ratings | Rate It

opednews.com Headlined to H3 12/15/17

Author 7783
Become a Fan
  (3 fans)
- Advertisement -

My sense of the current rhetorical mood of American campaigning is that the Republican "National Debt Terrorism" has run out of steam and that there is room to start proposing that America's severe needs be met, at least in part, with an authorization by Congress of a (supra Federal Reserve) increase in the common money supply, greenbacks, printed without taking them from earnings and spent off-budget, for various needs.

It could start small with an appropriation for, electronically created money for disaster relief for California and Puerto Rico. Then it could go to sew up CHIPS and other Republican budget slashes. Eventually later authorizations could go for infrastructure strengthening and a large direct federal employment program at living wages in this infrastructure work.

Jeffrey Sachs, Paul Krugman and Stephanie Kelton are on the Board of the Sanders Institute. Sachs is rightly credited with stabilization of Bolivia's currency in part by cutting its government's oil subsidy. While raising the price of gas has good environmental consequences, my sense is that the energy interest is way too powerful to accomplish much at this now. But a proposal to start small with greenbacks would only mildly threaten the finance interest. It's a line of less resistance!

Greenbacks were created by REPUBLICANS. As the Republicans lose offices through austerity they, even, could grasp at this as a straw. "Printing money," expressed correctly as authorizing electronic creation of United States Notes and posting them to accounts of SS, Medicare, Medicaid, SNAP, etc. represents an easy way for Sanders campaigners to answer the question "How will you pay for all that?" If Dems don't get out in front of this, Republicans may eventually preempt it!

- Advertisement -

 

- Advertisement -

View Ratings | Rate It

opednews.com

I'm NOT Bernie Sanders older brother, but could be by similarity. I was born in Manhatten, 1940, he, about a year later, in Brooklyn. I too am a white male American but a retired college professor of philosophy. We both cane from Jewish (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -