> We know it doesn't work because it requires printing money or raising the burden on today's youth unfairly.
Debt financing is how we got out of the great depression and just about every major economic crisis since. Where would the markets be without government intervention in 2008? Where would the markets be now without QE? If "printing money" and "raising the burden on today's youth unfairly" are systematic failures, then it seems that American capitalism has been a sham for a long time.
I agree it has generally been a sham for a long time. If we actually believed strongly in free markets we would have let the various financial institutions die in 2008. I personally believe smaller regional players would have stepped in and we may have had a stronger recovery after a worse initial depression as those players fill the gap.
Let's also see the real consequences of the rapidly increasing inflation too in the coming years from the last couple stimulus bills. I wouldn't be too quick to look at QE as a panacea.
Seems like we've been treating symptoms instead of addressing various root causes for a long long time.
Debt financing is how we got out of the great depression and just about every major economic crisis since. Where would the markets be without government intervention in 2008? Where would the markets be now without QE? If "printing money" and "raising the burden on today's youth unfairly" are systematic failures, then it seems that American capitalism has been a sham for a long time.