With the economy sliding deeper into a recession, panelists discuss whether it’s time to stop throwing our money into a massive pit out in the desert.
It would actually help if they did burn it instead of burning through it.. Not to worry, though. The Fed can create much more with just a few keystrokes. And of course the Treasury’s printing presses are running overtime. With enough inflation our debt will disappear, just ask Zimbabwe. They replaced the Rhodesian Dollar (which had a 1:1 exchange rate with US dollars in the mid ’70s, I know, I was there) on a one to one basis in 1980. When they finally got out of the money printing business they were printing Z$100 Trillion bills. On 8 November 2008 one of those bills was “officially” worth $147.50. Note that our debt is all in US dollars, does that give you any ideas? Can we /should we inflate our way out of debt? By the way, now in Zimbabwe they use a “basket of currencies” (sound familiar?) that includes the US dollar, South African Rand, Botswana Pula and the Pound Sterling. I wonder what our “basket” will consist of?
Courtesy of Onion News Network