A time for big spending

Financial Times/Martin Sandbu

graphic image of greenback-like artwork with the word helicopter featured

“Some economists now call openly for explicit helicopter money in the sense that central banks should directly fund government deficits. ‘I do think the time is right for monetary finance,’ says Lord [Adair] Turner. [the former head of the UK’s Financial Services Authority]. ‘There would be a clarity of assuring people that there is no limit on the money available.'”

USAGOLD note:  Not to throw cold water on the increasingly popular idea of helicopter money, but nowhere in this article are the potential consequences of its implementation addressed. Not even a passing mention …… Funny how crisis always brings out the apologists for running the money printing presses.  Helicopter money is quantitative easing on amphetamines.

Repost from 3-23-2020

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