As it becomes ever more clear that ZIRP and NIRP are not only entirely inadequate when it comes to reviving global growth and trade, but in fact may be counterproductive for a number of reasons, the world is looking for other answers.
Perhaps the most oft-repeated suggestion is “helicopter money.” One might fairly say that helicopter money comes in different versions. There is, for instance, “version 1”, which involves monetizing government debt in the secondary market with a bank intermediary (QE). Then there’s what we might call “version 2”, which might entail, say, monetizing government debt in the primary market and using the proceeds to fund infrastructure projects. And how about “version 3,” which might involve monetizing government debt in the primary market and sending everyone a check in the mail. Finally, we can envision “version 4” which is when Janet Yellen rents a helicopter and literally drops money from the sky.
Well on Friday, we got footage of the rarely seen “version 5,” which is also known by its more accurate moniker, “truck money.” This is when Brink’s armored vehicles drive down the highway and dump cash onto the road. Here to explain is CBS2 New York:
“While police say there were many people who stopped and helped police pick up the money, there may have been a few who pocketed some bills,” CBS speculates.
Watch next month’s consumer spending data for an early read on whether the coming experiment with helicopter money will work to juice the economy.
Запись Caught On Tape: Helicopter Money Arrives As Brink’s Truck Dumps $20s On Highway впервые появилась crude-oil.top.