Austin

Last active
3 years, 9 months ago
  • Austin commented on the diary post Will He Say He Has No Choice or Will He Use Seigniorage? by letsgetitdone.

    2011-01-06 14:22:35View | Delete

    Thinking about the difference between issuing bonds and seigniorage, it seems like direct QE is nothing more than issuing equity shares instead of raising revenue through the bond market. This would make sense, because our asset to liability ratio rocks. Or no?

  • Austin commented on the diary post Will He Say He Has No Choice or Will He Use Seigniorage? by letsgetitdone.

    2011-01-06 14:02:05View | Delete

    Recommended. And to clarify a point I made on Beowulf’s original post, on which you replied (thank you, btw). I think monetizing the budget stands as the best way forward for America. Our conventional sources of revenue collapsed in the aftermath of the financial crisis and economic depression. Seigniorage trumps selling treasury bonds because printing [...]

  • Austin and letsgetitdone are now friends

    2011-01-06 13:52:06View | Delete
  • Austin commented on the diary post A Zero Option Politics for the American Left by szielinski.

    2011-01-05 09:54:51View | Delete

    A few steps further: 1. rapid privatization of incarceration industry 2. privatization of military functions oh crap, we already do that stuff! And we also already force our inmates to work for below minimum wage or suffer punitive consequences. In NY, go into a state building and look at the furniture: made by Corcraft, corrections [...]

  • Austin commented on the diary post Coin Seigniorage and the Irrelevance of the Debt Limit by beowulf.

    2011-01-04 13:33:32View | Delete

    I get how this might be a short term fix to avoid debt ceiling drama, but seigniorage is not unlimited. Merely monetizing the budget reduces the relative value of money, which pushes investors out of the seignirage asset. In the short run, this would be a great thing, but mid and long term it would [...]

  • Austin became a registered member

    2011-01-04 13:20:04View | Delete