Ellen Brown and Matthew Yglesias Both Want Free Money

By:  Bob Adelmann
10/07/2011
       
Ellen Brown and Matthew Yglesias Both Want Free Money

Writing for the left-wing blog ThinkProgress, Matthew Yglesias noted his difficulty in coming up with a suitable slogan representing what the “Occupy Wall Street” demonstrators really wanted.

He explained:

My view is that the best demand of all … is “free money for the rest of us.” There are a lot of different specific ways this can be implemented, but the ... Powers That Be … have been willing to provide all manner of free money to players in the banking system. Debt cancellation is a form of free money for the indebted. But why give free money only to banks? And why give free money only to the indebted? Why not free money for everyone? “Everyone,” of course, includes the indebted. But it also includes ordinary people who didn’t happen to avail themselves of the credit binge. It’s an idea so good that it sounds almost silly.

"Everyone knows” that you can’t just hand out free money to everybody. Except actually you can … in the short term, free money for everyone impacts prices … [but] it would do so in a useful way. I don’t know what the best way to turn this into a slogan is, but the point is that if the different institutions that together constitute “the government” worked together, they could put more dollars into our hands. Creditors won’t like it because doing this will devalue their existing debt claims, but so what?

Writing for the left-wing blog ThinkProgress, Matthew Yglesias noted his difficulty in coming up with a suitable slogan representing what the “Occupy Wall Street” demonstrators really wanted.

He explained:

My view is that the best demand of all … is “free money for the rest of us.” There are a lot of different specific ways this can be implemented, but the ... Powers That Be … have been willing to provide all manner of free money to players in the banking system. Debt cancellation is a form of free money for the indebted. But why give free money only to banks? And why give free money only to the indebted? Why not free money for everyone? “Everyone,” of course, includes the indebted. But it also includes ordinary people who didn’t happen to avail themselves of the credit binge. It’s an idea so good that it sounds almost silly.

"Everyone knows” that you can’t just hand out free money to everybody. Except actually you can … in the short term, free money for everyone impacts prices … [but] it would do so in a useful way. I don’t know what the best way to turn this into a slogan is, but the point is that if the different institutions that together constitute “the government” worked together, they could put more dollars into our hands. Creditors won’t like it because doing this will devalue their existing debt claims, but so what?

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