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Like having your own licence to print money.
You can print money to bail out a bank, but you can't print life to bail out a planet.
When the government runs out of lenders, it can do something that households are forbidden to do: print money.
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
The government, of course, will print money to bail out the banks' uncovered casino bets, but not to bail out the elderly from the theft of their funds.
If you print money like in Zimbabwe... the purchasing power of money goes down, and the standards of living go down, and eventually, you have a civil war.
All the states are required, either by constitution or by statute, to have balanced budgets - they're not able to print money. So they have to focus on establishing priorities.
The world is completely revolutionized, so we're told, and so the logic goes that governments can just print money to pay their bills and there'll be no consequences. It's insane.
Well, the problem of the federal government is that they print money and go in debt. That's their national policy, Democrats and Republicans it doesn't matter. And this is where I differ.
In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.
We print money. The people that print the money is actually us. The government of the United States of America. By its very nature, we control that, and this system is there as representation of us.
One-newspaper towns are not good because all the surviving newspaper does is print money. They make 25 percent on their money every year, and if they go down to 22 percent, they start laying people off.
When I work with countries struggling to pay for budgets or finance trade deficits, I reflect on how Americans do not spend a moment considering the unique advantages of being able to issue bonds and print money freely.
To own the dominant, or only, newspaper in a mid-sized American city was, for many decades, a kind of license to print money. In the Internet age, however, no one has figured out how to rescue the newspaper in the United States or abroad.
When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker.
When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans.
I am pretty sure central banks will continue to print money, and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase.
'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity.