the bowl (TTL). There were no real constraints on this process then and there are no real contraints now (other than morons in govt today vs depraved in govt back then). Matt, If the treasury could have a 200b overdraft it would make little difference economically. 200B is a small amount of money that would not have to be part of the debt carrying interest. Governments have already been monetizing about 7% of their debt per annum and in all my adult lifetime we have had inflation. Many working people become significantly poorer via inflation where mainly it is the rich who do well from it. Today we have inflation with little sign of it going away. Prior to 2007 making money from inflation was a way of life for many of us -- all at the expense of the poor or the renting classes. Anyway BB is arguing for more government spending. I wouldn't say they become significantly poorer at all. It's in these deflationary cycles where real poverty reels its ugly head. Typically inflation means activity and that means more people are riding the wave and that includes poor people. Deflation is just the opposite and that means the bottom literally falls out for those at the bottom. Not good at all. The drop in general wealth you seem to be referring to in our country I think can more attributed to large scale wealth re-distributions from the middle classes to the rentier classes. It's been slow but