i guess i missed this.

when the economy crashes in a year or two, this will be the reason why, and not the tax cuts. america could go to a 0% federal tax rate without affecting the economy, so long as it prints what it needs - and can find somebody to buy the debt. but, when the country stops printing money, the economy will always start falling apart before the next election happens. it's a very short time window before the effects are felt.

"capitalism requires capital!".

and, perhaps it really is that simple. but, you can make this argument a dozen different ways...

i mean, i could run through the mmt charts.

but, i think even something as simple as population growth is a reason for permanent quantitative easing. and, maybe nobody has presented this to you, this way. i'm always surprised by how many activists sound like ron paul, when the topic of banks come up - probably because it's the only information they've ever received on the topic.

just think it through.

every given year, the following things happen:

1) the number of people in the country increases.
2) the value of the dollar decreases relative to itself (this is called inflation).

so, just through simple population increases, a roughly fixed money supply would mean that, year-over-year, there is going to be less money to go around, and it will be worth less. so, gdp per capita has nowhere to go but down.

now, you can argue inflation can be minimized (and i'm not going to take your arguments seriously, as there is no evidence at all that quantitative easing does cause inflation, despite many attempts to force it to; it's usually the reason it's brought in...) by reducing the money supply, or eliminating the ability to manipulate it, but you can't make that argument about population growth. if you don't increase the money supply to compensate for population growth, you're going to run out of money; if you have x dollars, and you split it fairly amongst y people, you're going to need a lot more than x dollars to split it just as fairly amongst y^2 people, and if you only have x dollars then the result is going to be a recession...

you won't find that in a textbook, but it's maybe the easiest way to understand the necessity of qe in the existing capitalist economy - and the sheer logic underlying the policy.

https://www.ft.com/content/caf45d6a-9e28-11e7-8cd4-932067fbf946

jagmeet singh must cut his beard.