It is always and everywhere the province of the central bank to monetize any spending, the government's or the private sector's, by printing enough money to pay for it in depreciated dollars.

It is always and everywhere the province of the central bank to monetize any spending, the government's or the private sector's, by printing enough money to pay for it in depreciated dollars.

Members of Congress should be compelled to wear uniforms like NASCAR drivers, so we could identify their corporate sponsors.

Which brings me to the point: In order to lose momentum, the U.S. economy has to have momentum to begin with. If it had any, I missed it. What we had was a government-prescribed course of amphetamines (to keep it up), antibiotics (to prevent infection) and antidepressants (to make it feel better). It endured regular steroid injections from both monetary and fiscal authorities. And it still has no real muscle.