In an earlier series of posts, Ned suggested that the Fed simply create money and send debit cards to every one who filed a tax return last year. The debit card, for, say $500 would go to anyone with an AGI of less than $200K but that's flexible. The money would not be depositable, and would have to be spent in the month it came. Then, next month another card would come, and so on until the economy got 'back on track.' Now, this money would be income so it would be taxed by the state and the feds, swelling the coffers of government so they could hire more people or lower property taxes or something. At the same time, the Fed should announce that these measures would succeed and the country was growing again. That would make the stock market go up, people could then sell some shares and make a little money, taxable, which would help still more. Others would buy shares with their new money. If it caused a little inflation, that would help pay off the mortgages that have left some people underwater and unable to move to take advantage of some new job they may know about.
It seems that others are getting on Ned's bandwagon, but Ned asks his friends to remember that YOU HEARD IT FIRST HERE.
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