Raising the Bar

[John K. Taber]

DICKENS, EDWIN (973)-408-3024 wrote:
> 
> Max,
> 
> Your policy of spending the surplus can
> 
> "help people...spend even more, yum, yum)"
> 
> without using a temporary interest rate cut to bail out hedge funds and
> the banks etc. that financed them, no?  Why socialize Wall Street's
> losses?
> 
> Edwin Dickens

Max, I don't see lowering rates either. In addition to "why bail out
the speculators?", wouldn't lowering rates make it easier for the
speculators to continue their game, getting us ever closer to a
real meltdown? 

I think I read in Doug's book that money goes into speculation when
speculation promises a better return than investment in the "real"
economy. So, easy money isn't going to improve the real economy.
I would just make "financial" (rentier?) investments easier.

No? Yes?