Mid-Morning Reads for Tuesday, January 8th 2013





  1. I would disagree that minting a $1 trillion coin and using it to pay the debt would not be inflationary. There are a number of reasons not the least of which is it would be printed or in this case minted money out of thin air.

    Folks may be interested to hear yesterday’s Coffee and Markets where they talk about the $1 trillion coin.

    Doing away with the debt limit might be worth a debate but I look at it sort of like a credit card limit. We have to stop increasing our debt sometime even if it’s after the entire world runs out of money and we can’t purchase any more ink for the printing presses.

    • ChuckEaton says:

      Agree that it’s just like a credit card limit, but we seem incapable of any self-imposed restrictions. Eventually, the people buying the debt will set the real limit – just like a credit card company. That’s when it all hits the fan. Not a lot of folks excited about loaning Greece money.

    • Stefan says:

      The debt limit will have to continue to increase regardless of fiscal policy because inflation is a necessary precondition to a growing economic system, at least long-term.

      The coin thing is a joke, mostly, but it shouldn’t affect US inflation because it isn’t in circulation.

      • If it’s not inflationary they why not do it? I mean we could wipe out our national debt without consequences!

        By using such a coin it to reduce the national debt it increases the government’s ability to spend money by that amount. It’s in circulation indirectly.

  2. Ed says:

    Why do say ” the ‘right’ to carry,”?

    Also, I wonder how long it would take the clerk at BP to break a $1 trillion coin.

    • Stefan says:

      So there is a right to bear arms in the Constitution, so there is a question as what that extends to. Does it merely defend militias using muskets, or does it allow for personal ownership of fighter jets? Laws preventing those carrying guns from bringing them into various public places can be seen as violative of that right, but only if that right actually extends to those laws. If it doesn’t, it’s more of a “right” than a right.

  3. Ghost of William F Buckley says:

    Says former DeKalb CEO and Manuel Maloof protege’, Lianne Levatan, who is ‘taken aback’ by the most recent unpleasantness: “It’s very unfortunate that something like this comes to light.”

    Because, like in my day, we knew how to keep this stuff quiet.

    DA James may find himself as the head of the FBI one day…or something equally BIG.

    • jbgotcha says:

      God, I hope Robert James doesn’t do anything bigger than he is now. It would be a total nightmare for the country. This recent charade is all smoke and mirrors to distract from his office’s inability to prosecute murders, rapes, etc in a timely manner. Of course, no one will talk about that. He is part of what’s wrong with DeKalb, not the solution. Ugh…

    • Progressive Dem says:

      Best bet is that DA is blowing smoke to distract from the fact that he can’t get anything or won’t prosecute V Jones and his cronies. DA is crafty, and this is subterfuge.

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