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Helicopter money

By
Managing Real Estate Broker with ERA American Real Estate

No I am not talking about the upcoming NFL draft April 25-27th where the first 64 selected in the first two rounds become millionaires which is fun to watch. 

 

I am talking about the term coined by Helicopter money - Wikipedia Milton Friedman is known to be the one who coined the term 'helicopter money' in the now famous paper "The Optimum Quantity of Money

 

He was talking more about inflation and the costs of holding money, rather than an actual policy proposal. 

He was a free  market guy so much so you can find old videos of him saying we didnt really need consumer safety departments, no need to push for seat belts etc the market would not buy a product if it wasnt good enough. 

"Dr. Friedman explains how seat belt laws and helmet laws for adults make sense only when citizens are government property. "

He would discuss John Stewart Mills about personal freedoms and right to choose when discussing this.

Friedman has been in the news with the discussions of low interest rates and the Federal Reserve talking of making interest rate cuts again to the rates, and the discussions that took place with quantitative easing in the revival of  in the 2000s

Ben Bernanke famously delivered a speech on preventing deflation in November 2002 before the financial crisis of the 08-09 years. 

We had seen many of the banks do buybacks of stock rather than lend out with the Fed window funds and backstops through quantitative easing. We have seen quantitative easing for everyone in the way of stimulus checks over the years that went out during multiple presidents times in office. 

 This question is again being discussed with the negative side effects of low interest rate policies that we have seen in the last few years with cost of goods, housing and everything going up in cost and now the development of central bank digital currency. This will be interesting to watch how they roll out the central bank digital currency, if they will just use it to test the markets with settlement services for banks as they are now for years to come or if the next stimulus payments when we hit a worse economic time again will the payments come from digital currency since its lower cost not to print. People have become accustomed to filing online and services have moved to online permissions like HR Block. 

 

 

Posted by

Brandon Jordan, Realtor,E-PRO,ERA American Real Estate
 

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ERA American Real Estate
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Comments(1)

Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Gee, Brandon -  I thought this picture was of Harry Truman!  

Apr 07, 2024 07:23 PM
Brandon Jordan

Thank you for checking out the post and comment, I think the AI model must of been trained on older versions of Milton Friedman images. 

 

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism (youtube.com)

Apr 09, 2024 12:00 PM