Although G.D.P. numbers still aren't perfect -- they are subject to periodic revisions, for example -- the basic problem has been largely solved. So why not issue shares in G.D.P. now? Such securities might help assuage doubts that governments can sustain the deficit spending required to keep sagging economies stimulated and protected from the threat of a truly serious recession. In a recent pair of papers, my Canadian colleague Mark Kamstra at York University and I have proposed a solution. We'd like our countries to issue securities that we call "trills," short for trillionths. Let me explain: Each trill would represent one-trillionth of the country's G.D.P. And each would pay in perpetuity, and in domestic currency, a quarterly dividend equal to a trillionth of the nation's quarterly nominal G.D.P. Read more...
Such securities might help assuage doubts that governments can sustain the deficit spending required to keep sagging economies stimulated and protected from the threat of a truly serious recession. In a recent pair of papers, my Canadian colleague Mark Kamstra at York University and I have proposed a solution. We'd like our countries to issue securities that we call "trills," short for trillionths.
Let me explain: Each trill would represent one-trillionth of the country's G.D.P. And each would pay in perpetuity, and in domestic currency, a quarterly dividend equal to a trillionth of the nation's quarterly nominal G.D.P. Read more...
What is scarier, the "asset" backing this bond proposal, the proposal writer's credentials, or the repressed memory precipitating the proposal publication? Diversity is the key to economic and political evolution.
Trills issued by the United States Treasury would pay about $14 in dividends this year and might fetch $1,400 a trill or more.
So if I spend $1.4m, I get an annual dividend of $14k?
That's going to be popular, isn't it?
soon you'll be able to bet on whether you are breathing!
oops, i guess life insurance'll cover that.
well, let's bet if your insurance company will get bigger, or gobbled, or both?
could your trill be paid in gold?
or could its value be pegged to that of the moment you bought it, so inflation doesn't dwindle your winnings? ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
