I'm not a fan of it. It causes inflation and is therefore a tax on savings. I don't see where the "Rich richer, poor poorer" argument comes from.
If money printing is to help the poor, why is it not directly distributed to them? If it's supposed to be fair why is not distributed evenly to all of us? As Purple said, money printing is like a stealth tax on savers, on those who are financially responsible, egging them on to consume and to invest instead of save, forcing an immediate cut of those savings as fees to the financial industry and offering the usual disclaimer for the remainder: "value of investments may go up as well as down". What's not to like?
It's not just that it it hurts savers, it distorts the natural flow of capital. Instead of it going into businesses and services to increase productivity (the only way to create wealth), it flows into financial institutions. The state can borrow more cheaply and so can create more debt. This perpetuates the problems we are facing.If money printing is to help the poor, why is it not directly distributed to them? If it's supposed to be fair why is not distributed evenly to all of us? As Purple said, money printing is like a stealth tax on savers, on those who are financially responsible, egging them on to consume and to invest instead of save, forcing an immediate cut of those savings as fees to the financial industry and offering the usual disclaimer for the remainder: "value of investments may go up as well as down". What's not to like?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?