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From the little I've read, they are concerned with inflation - having to lug wheelbarrows of money to the grocer - not deflation - having no money.

How they expect to receive their stream of compounded interest payments from the unemployed is beyond me, but that seems to be their concern.


She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Jun 6th, 2010 at 12:13:34 PM EST
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When they can't get the interest payments they'll set up debtors' prisons. Since they can create money by extending loans to each other, they can monetize the future hard labour at these debtors' prisons in order to pay themselves the interest they're due.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Carrie (migeru at eurotrib dot com) on Sun Jun 6th, 2010 at 12:19:54 PM EST
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