It seems that right now there are 2 forces in the world: the destruction of money due to debts that can never be collected, (money is debt), and the creation of money by central banks with nothing in the world physical to back it up. The first pushes us to deflation and the second to inflation, not to say hyperinflation.
Possible solutions that I see
Nothing of that. The forward kick will continue. On the moons of Jupiter and Saturn there are methane oceans waiting for someone to pick them up.
What is evident is that the system called Capitalism has collapsed a long time ago. Where we go?. Nobody knows, we only know that the economy behaves financially with the usual symptoms of drug addicts when they have the “monkey.” That is to say, it is deranged by any bullshit and makes illogical decisions, getting that the duck is paid by those around it … The collapse is inevitable, it has happened other times in the History of Humanity, but they will delay everything they can. At least, as long as they don’t know how they are going to relocate in the new World.
Huky, you spent the whole autumn calling on the ECB to start printing money, and now that it does it turns out to be the end of the world … there is no doubt that both the dollar and the euro (if it survives) are They will devalue, but this will allow us to compete with emerging countries. Is this so bad? After all, I think what worries us is that Westerners stop being the kings of the mambo on the world board … sooner or later it had to come, right? just don’t go too bad of seconds…
In my ignorance
I believe that monetary policies do not cease to be a way of falsifying reality, and do not solve a structural problem of lack (impossibility?) Of growth.
It’s as if I ask you about your size and you tell me in centimeters. I ask you again, and you give it to me in millimeters. Changing the unit of measure, the figure seems more impressive, but in your years you have not given any stretch. You measure the same, obviously.
With the same currency: you can coin more money, but that does not multiply the capital, the wealth of a nation (there are no more farmland, no more factories, more arms willing to work …). You are equally rich or poor, only measured with another unit of measure (a currency devalued?).
But that is the question
If all central banks do the same, it would be stupid for the ECB not to do so.
Because, after all, what are the side effects of chute? No devaluation regarding which, if the major currencies are doing the same? Inflation either, not at least in the real economy, which does not reach the money in the form of credit (yes there is asset inflation, as you say).
Well come on, print money. It is absurd but is there anything in this situation that is not?
What I would ask is that the money finance the states directly, and not that the banks take a cut of the situation (this is still a bank bailout with public money, the ECB at low rates, and the states that they place their expensive debt).