Thomas J. Gordon

Thirteen Aspects of Our Current Economic Situation

A lot of people state that the payout yield of a tip is the "real" interest rate. I am skeptical of that. I can see all kinds of distortions if we see signs of inflation. People will flee to tips for a "real" return (even if it's low) and that will distort the price.
Sober Realist - I'm sure there's some vestige of the constitutioni that allows state banks to print money. Here's a discution of it: www.ronscurrency.com/r... It was common in the 1800's. But we don't want California printing money. I rant and rail that the federal gov't can spend more than the tax take. Imagine what it would be like if the 50 states could do so too.