I have never understood why anybody would think the rich are not out for themselves! They might be out for Blacks if they fear a city burning or for the poor if they get tired of looking at filthy bums maybe... wtf...
It is true that private sector banks, not the fed nor the treasury*, make money for their owners by borrowing money at one rate and loaning it out at a higher rate, the rate difference being the "spread" which, after expenses, the owners pocket. And of course banks have myriad other ways of making money from commerce and financial services. Is this wrong? I heard recently of Cryptomining, still something else I know hardly anything about. But I was left with the impression that this was a means by which profits could be extracted from cryptocurrency transactions. If that is so, wouldn't that be more or less the equivalent of banks profiting from commerce and loans. Is this wrong? ______________________ * the Federal Reserve system serves, among many other things, as the Treasury's Bank. The fed does often make profits, after expenses of course, from mainly bond transactions, earned interest, and fees it charges private sector banks, etc. But unlike private sector banks whose profits flow to the banks' owners, the fed's profits flow 100% back to the American people via the Treasury.
I was watching a tv documentary on cars and how they changed America. Before the Model T most people never went 50 miles from their birthplace. They were limited to what a railroad could do for them regarding choice of destinations. We could return to that setup, let the roads deteriorate and rely more on the internet. We might be as happy if not moreso.
Travel is fatal to prejudice, bigotry, and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the earth all one's lifetime. - Mark Twain I'm with Mark. And I'm all for spending the money we have. Not what we create.
" And I'm all for spending the money we have. Not what we create. " Many people would agree with the concept. But the reality is how many nowadays can buy a house with full cash? "A Timeline of United States Currency" https://dailyreckoning.com/a-timeline-of-united-states-currency/
China has been manipulating its currency to fuel its exports. They have not experienced the inflation you talk about.
Only a leftie would call buying a house with cash ... a concept. Are you a leftie? Anyway that was how it was done at one time. And actually some people still today (and not just the wealthy) do it. Individual states have to balance their budgets each year, even though they sometimes resort to games like delayed funding of pensions, why shouldn't the federal gubmint be required to have a balanced budget every year? Excluding truly exceptional periods like wartime (but not terror wars) and real depressions (not great recessions).