Little did we know that in 1999 current economists and policy makers were seeing into a future 2013 when the mighty American economy would be brought to its knees from its own insatiable appetite for corporate profits and the solution to escape the debt riddled debacle, and the clutches of stubborn House Republicans, would be to mint a Trillion dollar platinum coin.
I kid you not. Some even thought it to be a viable last option. The Fed has since dismissed the rumors as nothing short of fanciful fairytales, but still, one has to think what we’re coming to when The Simpson’s contribute to solid economic policy.
Here are some more links on the discussion:
- Treasury Won’t Mint Coin – NYTimes
- Krugman said coin a viable idea – NYTimes
- Another Krugman Post
- Lots of Influential People Talking Coin – BusinessInsider
- How the Trillion Coin could work – Reddit
- Everything You need to know about the Trillion – Theatlantic
- Economix – NY Times
- Disruptive Trillion
- Joe Firestone: Naked Capitalism
- And more links from EconomistView
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The worst part of the problem is how ugly the numbers have become,
I have posted several articles on my blog concerning this subject. Let us
hope Washington does not use another cheap trick to sidestep its fiscal