What a treat to read this news letter. For me it even more enjoyable because I can relate to what I learnt in GCPP class -
1. Numbers are ambiguous and politicians use number to exploit us - 2023 GDP numbers.
2. states clarifying their vision for growth and development should be given priority to further cooperative federalism.
3. Anti-state is different from anti-government.
4. Recent case of professor being jailed is the case for judicial overreach. Govt is temporary and state is permanent. Ridicule of govt policy is not being seditious, rather it is our right to question and be critical of Govt action.
5. Govt job is to provide conducive environment for businesses to prosper and not to resort to retrospective tax.
'The seigniorage the Fed makes by issuing dollars as cash (printing money) is also coming down as cash usage declines' -
Seigniorage is earned even when Fed or any central bank issues currency in digital form and maybe more than what it earns from physical cash as it is costlier printing cash with all the security features, security paper, specialised printing equipment and so on. When a central bank credits a commercial bank's account with it for, say a purchase of securities under open market operations, seigniorage earned per unit of currency is more, than paying it cash
What a treat to read this news letter. For me it even more enjoyable because I can relate to what I learnt in GCPP class -
1. Numbers are ambiguous and politicians use number to exploit us - 2023 GDP numbers.
2. states clarifying their vision for growth and development should be given priority to further cooperative federalism.
3. Anti-state is different from anti-government.
4. Recent case of professor being jailed is the case for judicial overreach. Govt is temporary and state is permanent. Ridicule of govt policy is not being seditious, rather it is our right to question and be critical of Govt action.
5. Govt job is to provide conducive environment for businesses to prosper and not to resort to retrospective tax.
'The seigniorage the Fed makes by issuing dollars as cash (printing money) is also coming down as cash usage declines' -
Seigniorage is earned even when Fed or any central bank issues currency in digital form and maybe more than what it earns from physical cash as it is costlier printing cash with all the security features, security paper, specialised printing equipment and so on. When a central bank credits a commercial bank's account with it for, say a purchase of securities under open market operations, seigniorage earned per unit of currency is more, than paying it cash