A Quote by Ben Bernanke
The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
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Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.
The Internet is the first technology since the printing press which could lower the cost of a great education and, in doing so, make that cost-benefit analysis much easier for most students. It could allow American schools to service twice as many students as they do now, and in ways that are both effective and cost-effective.
Anyone who has studied the history of technology knows that technological change is always a Faustian bargain: Technology giveth and technology taketh away, and not always in equal measure. A new technology sometimes creates more than it destroys. Sometimes, it destroys more than it creates. But it is never one-sided. The invention of the printing press is an excellent example. Printing fostered the modern idea of individuality but it destroyed the medieval sense of community and social integration.
Technological civilizations don't last long. You're all right until you get a printing press. Then a race starts between technology and common sense. And maybe technology always wins.
Every technology, including the printing press, comes at some price.
There isn't a single government agency that can't function. There's more money in this federal government, there's more money allocated than these people can possibly spend. They have to concoct asinine ways to spend it, like advertising for new food stamp users. I've gotten to the point, I'm just so righteously indignant and offended at the very idea that our government could ever run out of money when we've got a printing press, for crying out loud. Printed three and a half trillion dollars over seven years and flooded Wall Street with it.
I loved Fugazi, the D.C. hardcore band, because they always did everything themselves. They had their own label, and the CDs always cost nine dollars, the T-shirts always cost eight dollars, the shows always cost five dollars, no major label.
The Government's power to censor the press was abolished so that the press would remain forever free to censure the Government. The press was protected so that it could bare the secrets of government and inform the people. Only a free and unrestrained press can effectively expose deception in government.
In September 2008, the two largest housing mortgage companies called Fannie Mae and Freddie Mac, which were government-sponsored enterprises, which hold hundreds of billions of dollars of mortgages, because of the losses they took on the mortgages, they essentially became insolvent, and the government had to take them over.
American press, like the press in many countries, acts like a cheerleader to our government rather than a critical observer. This is especially true, when it comes to foreign interventions. That means that when government leaders conclude that intervention in a foreign country is justified, the press rarely criticizes it. In fact, the press has been an enthusiastic cheerleader for many of our foreign interventions.
Too few people recognize that the high technology so celebrated today is essentially a mathematical technology.
The government can't create jobs; they'll destroy jobs trying to do it. The government doesn't have any money; all they have is a printing press. We need to free markets to create jobs; if the government wants to help, they should reduce their burden on the economy.
The most important and urgent problems of the technology of today are no longer the satisfactions of the primary needs or of archetypal wishes, but the reparation of the evils and damages by the technology of yesterday.
The most important and urgent problems of the technology of today are no longer the satisfactions of the primary needs or of archetypal wishes, but the reparation of the evils and damages by technology of yesterday.
The printing press had a very liberatory effect that meant individuals - small groups could produce radical pamphlets - could use it for organizing.
You must understand printing lies about Republican candidates is OK. It's called vetting. Printing the truth about liberals - that's called "swift-boating."
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