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Wayne C's avatar

Incredible read. While most of the article was somewhat over my head, I found my self enthralled. Hopefully PM Carney draws Lamont into his circle as an economic contrarian.

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Ang Traders's avatar

Interest rates are determined by the Central bank based on the false assumption that higher rates lowers inflation, which is like saying a sledgehammer kills mosquitos. High rates provide UBI for the already-rich (risk-free income from Treasuries , for no work) in proportion to how rich they are.

The Canadian Government spends the CDN $ into existence and taxes it out of existence. It does not have to borrow CDN $. Just spend to release the real resources a healthy society needs to prosper. Anything we can do…we can afford. ( we are self-funding).

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