Warren Bailey
Warren Bailey
Warren Worth Baileywas a Democratic member of the U.S. House of Representatives from Pennsylvania and a Georgist publisher...
depressed limits monetary people personal
If people are depressed and scared, as they have been in Japan, there are limits to monetary policy. It comes down to people making personal decisions.
economy good ideas lean produce stuff
If you look at the fundamentals of our economy -- is it mean, lean and flexible, does it have right ideas about how to produce -- all the good stuff is there.
asset bank buys central expand liability money
Anything the central bank buys constitutes an asset and allows it to expand its liability of money supply.
break control fed inflation running signal trying
It's not that the Fed is trying to break up the party, it's that they're trying to keep it under control so there's enough to go around for everyone. Inflation is a signal that we are running out of some kind of resource.
advance contracts downs economy fast government grow less mild pain raising spares ups
You want to grow as fast as possible, but when you do that the ups and downs are huge. If the government contracts the economy in advance in a mild way, that makes those ups and downs less onerous, and spares us a lot more pain down the road. That's why they're raising rates.
caught good news system
The good news is, this is a system where you can be caught out and be punished.
meet number supposed
We feel like, number one, we are supposed to meet the ordinance,
base countries dollar further good looking reasons task time
There are a lot of reasons why, looking further out, a broadened base for the U.S. dollar would be positive. It would be good for the U.S. because it will make those countries more prosperous, more responsible, more stable. At the same time it does make us more responsible for them, which is a pretty big task to take on.
involved normal par people process reality shake thinking
There are a lot of people struggling, thinking that they need to do this and be involved in the new economy, and they have no idea what they are doing. That's all par for the course, and part of the normal process of any capitalist-driven economy. It's unfortunate, but it's reality -- shake out those that can't from those that can.