Re: [Pen-l] Re: Reality catches up with catastrophists

["Jim Devine" <jdevine03@xxxxxxxxx>]

Michael:
>> Fictitious values can create real wealth.  I can slice and dice bond.  Sell off parts of it to
>> people who are willing to pay because they can ensure the bond from someone else. I pocket
>> some money for my efforts, then go out and buy a yacht.

Sabri:
> But this is mostly about creation of money, irrespective of whether
> any income is generated through the creation of debt or not.

if the supply of goods and services isn't inelastic, an increase in
the amount of money (or rather, money times velocity) would increase
real production.
-- 
Jim Devine / "Nobody told me there'd be days like these / Strange days
indeed -- most peculiar, mama." -- JL.
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