caseyresearch.com / Justin Spittler / March 23, 2016
Could the government start handing out free cash?
It sounds crazy. But believe it or not, it’s a real possibility. In fact, an Ivy league economist just predicted it will happen within five years…
If you’ve been reading the Dispatch, you know the Federal Reserve has used crazy monetary policies to “stimulate” the economy since the 2008 financial crisis. These policies have been huge failures. After seven years, the U.S. economy is barely growing.
Yet, instead of acknowledging its failure, the government is preparing to double down. And its friends in the lapdog media think it’s time for “helicopter money.”
• Yesterday, The Wall Street Journal published an article titled, “The Time and Place for ‘Helicopter Money’”…
It was the top story in The Wall Street Journal’s “Economy” section.
Economist Milton Friedman coined the term “helicopter money” in 1969. He suggested the government could drop free cash from helicopters to stimulate the economy. People would collect the money and spend it. The economy would grow as a result.
Friedman likely never took this cartoonish idea seriously. For a long time, hardly anyone else did either.
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