Their family textile-dyeing-and-printing trade, handed down for generations, uses natural vegetable dyes and wooden hand blocks for printing.

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Theory and practice both tell us that printing money cannot generate economic growth or lower the natural rate of unemployment, but it can cause inflation.

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Instead of paying back the excesses of the credit boom in terms of magnitude (a more severe economic contraction that clears the system), we have opted to repay debt in the duration of our economic malaise, thereby opting to stunt the natural course of deleveraging by borrowing more at the sovereign level and printing money.

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Now, a natural response might be: If what you are saying is true then we could always just grow an economy by printing money.

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