Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
...deflation should be avoided. Well, that too can be fought. For instance, the central bank could credit every resident of the country with an equal sum, and keep increasing it until the desired inflation is achieved.

Problem with this is a person with a high debt load would be better off using this central bank credit to pay down debt rather than consume.  Further, a person who pays down their debt while other people go out and consume would win The Game: reduce their debt load AND receive the benefits of a reviving economy from all the financially ignorant spending their central bank credit.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Nov 17th, 2013 at 12:40:13 PM EST

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