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BY DEFINITION, there is no adult person whose skills, no matter how minimal, are not worth a living wage if the get up in the morning and work for eight hours and go home, 5 days a week.

You misunderstand. Those "trillions of dollars" you mention were created earlier via deficit spending into the private sector economy when the Fed covered net Treasury overdrafts in the Treasury's Reserve Account. Otherwise the The Private Sector could not have bought trillions of dollars worth...

Wouldn't that really depend on how fast all of this new outside money finds its way into circulation in the economy. We should see a tremendous boost on the demand side, and some considerable inflation until the supply side can catch up. Overall there should be full employment and a really...

Ha ha ha....

Jem, I just had a thought that might help you break your addiction to faulty government finance reasoning. Just pick up a copy of Stephie Kelton's new book "The Deficit Myth". Your obviously not a big reader, but this book is really dumbed down so that everyone can read it. You only have to...

Everything you posted in your long quote above is accurate so far as I know. So what's your problem? You're just pissed, I supposed , that Bernanke didn't consult with you before the Fed rescued banks with illiquid assets. The Fed doesn't "give out" money. The Treasury, however, "gives out"...

I know. The CBO thinks that the aggregate deficit is debt. But the deficit isn't owed to anyone, and the bonds sold are exchanged for money already printed out of thin air and spent into the private sector. If you had a money machine in your basement the concept of debt would be meaningless...

You're a very slow learner. :D

The Fed never "gives" money away. It only loans with collateral and interest.. You routinely confuse the Treasury which is the conduit for Federal created money to move to the private sector with the Fed which is the banking half of the combined Treasury Fed operation, though by law they are...

Take your crackpot conspiracy theories to the Court, which disagrees with you, and see how far you get. .

actually there is no public debt, if that's what you're referring to by "debt". There are other serious concerns of course, but so-called "public debt" should not one of them.

You've not followed Jem's and my posts. No one is disputing that there have existed for years conspiracy theorists that believe the Fed is a private for profit bank/ Jem is only one of them.

100% of that is debited to the Treasury's Reserve Account! IT IS NOT THE FED SPENDING THIS MONEY. THE FED , BY LAW, MUST ACCOMMODATE IT. And thank goodness for that. And thank goodness we have done those things.

Franchise ?? Like Kentucky Fried Chicken? There is probably nothing you have more wrong than this statement above. The Fed is part of the overall Treasury - Central Bank Operation. The Fed creates money when the Congress appropriates Treasury spending in excess of Treasury income. They have...

It's a matter of whether we should go on living a lie, or start practicing what we preach.

It is related.

If their business depends on government subsidy of low wage workers. they have no business being in business in the first place.

Who are these member yo re referring to ???

It's pretty damn difficult to run them for anything else!

And how many times have I explained to you that the Fed. including the Regional Fed Banks. are not privately owned for private profit operations? Your grasping at straws to avoid admitting your own fallibility.