Recession or Depression?
A Credit Free, Free Market Economy Is Possible: Both Dynamic in the Short Run & Stable in the Long Run
Hence, We Shall Cancel All Interest Bearing Debt
In This Age of Turbulence People Want an Exit Strategy Out of Credit,An Adventure in a New World Economic Order.
The alternative would be to wait till, on the long run, most of our productive assets get physically destroyed either by war or by rust.
It will be either awfully deadly or dramatically long.
Here's my open letter to chairman Bernanke:
Sorry, Chairman Ben S. Bernanke, But Quantitative Easing Won't Work.
In a Liquidity Trap, as you already know, although Saving (S) is abnormally high investment (I) is next to 0.
Hence, the Keynesian paradigm I = S is not verified.
The purpose of Quantitative Easing being to lower the yield on long-term savings and increase liquidity it doesn't create $1 of investment.
In a Liquidity Trap the last thing the Market needs is liquidity.