We’ve heard over and over again that the state can stimulate the economy by creating money out of thin air. Doesn’t matter where it goes, they say (although it usually seems to go to their cronies), just create that money and you’ll be out of the recession in no time! Isn’t that what we’ve been told ever since the financial collapse? Well, I have a question about that, one I’d really like the statists to answer:
Transcript below the fold.