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Fiscal Dominance and the Re-emergence of Zero-Interest Bank Reserve Requirements
- 2023/10/10
- 再生時間: 4 分
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Episode NotesTopic: Fiscal Dominance and the Re-emergence of Zero-Interest Bank Reserve Requirements.
- Introduction:
- The heartbeat of a thriving nation's economy is under the shadow of fiscal dominance.
- A deep dive into the intertwined world of fiscal and monetary policy.
- Fiscal Dominance Defined:
- Scenario where government borrowing dramatically increases money supply.
- Risks of uncontrollable inflation.
- Current U.S. Fiscal Situation:
- Charles W. Calomiris' warning on the U.S. approaching a fiscal precipice.
- Skyrocketing national debts and widening deficits.
- Zero-Interest Bank Reserve Requirements:
- Banks' mandatory reserves without earning interest.
- Potential tool to control excessive money supply and manage inflation.
- The potential strain on banks’ financial health and their ability to finance.
- Finding Solutions:
- Tightening fiscal belts: the challenges of vast entitlement programs and expanding defense budgets.
- The potential of income taxation as a solution and its societal implications.
- Calomiris’ Warning:
- Critical choices that will determine the fiscal destiny of the U.S.
- The looming threat of unchecked inflation and economic regression.
- Closing Remarks:
- The importance of an informed and engaged public.
- Encouragement to understand and participate in discussions about fiscal policies.
- Signature Sign-Off:
- A call to question, learn, and stay engaged with the complexities of the economic realm.