Mais uma contribuição do departamento de Economia da Unicamp para a
tecnologia farmacêutica brasileira: o indutor de vômito do ‘fessor’ Fernandinho zero-à-esquerda.
Funciona até para cachorros neo-liberais
Um blog paleoliberal.
“No caso de Boston, o que diabos faziam dois tchetchenos vivendo em Cambridge, como está sendo informado?”
Além disso, parece ser pouco plausível que o problema do juro elevado no Brasil se deva à escassez de poupança doméstica. Com efeito, se essa explicação fosse correta, então a taxa real de juros de longo prazo deveria ser muito alta para os padrões internacionais, o que não acontece. Com efeito, o contrato de DI futuro/swaps com vencimento em julho de 2014 estava pagando um juro real ex-ante de 7,4% ao ano no dia 14/06/2011.
Imagine that I, as an Australian citizen, have performed an extraordinary deed for my country. To reward my efforts, the Australian Federal Government takes the unprecedented step of granting me three unique means of financing my spending. In the first instance, it provides me with a printing press that enables me to produce as many Australian $100 notes I like and spend them into existence. Secondly, it provides me with an open cheque-book that allows me to write cheques to whatever value I like and spend them into existence. The cheques never bounce. If I exhaust my cheque-book, I immediately receive a replacement. Finally, I am given a bottomless, plastic swipe card that enables me to conduct electronic transactions to whatever value I like. The transactions are always accepted as payment. Following an electronic purchase, the balance appearing on the seller‟s bank account rises by the value of the transaction.
Now, answer this question: Would I have any need to earn money, borrow money, tap into my savings, or sell some of my existing assets to finance my spending? The answer, of course, is no. My spending power would effectively be unlimited. Moreover, my spending power would bear no relation to my financial circumstances prior to being rewarded in the above manner. Irrespective of whether I previously possessed net financial assets worth $1 million or net liabilities of $1 million, my capacity to spend would be exactly the same. If I was in the latter position, all I would have to do vis-à-vis the former position is write myself an additional cheque to the value of $2 million.
What's the relevance of this? Although somewhat simplified, this is precisely the same privileged position enjoyed by every currency-issuing central government.