Once it is shown that we don’t have to “pay for” things before we spend for them (the issuer of currency doesn’t need our currency to spend currency) and that the debt (a record of currency left in the private sector not canceled by taxation) isn’t the harbinger of end times we may be able to sneak up on a sensible economic policy of increased domestic deficit spending that avoids more suffering and creates demand for goods while not depriving the wealthy of their hoarding obsession.
America was so caught up in the fight between warring economists in the 70s that it barely noticed…
Keith Evans
23

Quite a mouthful there in a single sentence! It’s the encapsulation of everything I am trying to conceptualize right now. So far I’m not seeing things the same way .. call me old fashioned I guess. I see a tsunami of interest payments swelling to perhaps twice what we spend now .. 250 billion a year .. to 500 billion and more. The bankers have us right where they want us.

Just check out this graph and imagine interest rates climbing as they are starting to do ..

I would like to think that somehow we could just sidestep all this debt much like how the Romans did with each new ruler. They treated debt much like a game if you knew the system. I wonder how many did?

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