By now, all economists know that creating more billionaires with QE doesn't accomplish anything for the real economy. So we will hear more about pushing money to main street.
They are trying to solve financial debt. If they use printed money to do this, it is really just more of the same. The correct way to solve debt is default, but the bankers and billionaires will try to avoid this as much as possible.
What is not being discussed is the debt to the biosphere. The world has copied the US system of autos and sprawl. This is a subsidized, unsustainable system. Even if oil price goes to zero, the system draws most of its subsidy from the destruction of the biosphere. This cannot be paid with money, printed or otherwise.
Regardless of price, oil costs more joules to get a joule every day. The only way to address this is by degrowth. We are already in degrowth, the question is, will we fight it to save the rich, or will we work with it to save the biosphere.
They are trying to solve financial debt. If they use printed money to do this, it is really just more of the same. The correct way to solve debt is default, but the bankers and billionaires will try to avoid this as much as possible.
What is not being discussed is the debt to the biosphere. The world has copied the US system of autos and sprawl. This is a subsidized, unsustainable system. Even if oil price goes to zero, the system draws most of its subsidy from the destruction of the biosphere. This cannot be paid with money, printed or otherwise.
Regardless of price, oil costs more joules to get a joule every day. The only way to address this is by degrowth. We are already in degrowth, the question is, will we fight it to save the rich, or will we work with it to save the biosphere.
