Major economic reform only happens when the capitalist lords that own the government FUBAR the economy so badly that they don’t want to come out of hiding to oppose populace actions. Otherwise, it’s business as usual, creating economic conditions that force the private sector to leverage its own debt and using the business cycle to harvest its wealth when the bills come due with no currency to pay them.
The Fed uses interest rates to maintain five percent unemployment so the economy doesn’t overheat and inflate. That’s five percent of Americans losing homes, cars, insurance, college for their kids, etc so one percent doesn’t have their portfolios devalued, and that’s when things are going as planned. Any system that institutionalizes misery is failed from the start, and this one is the prime driver of misery in the world, not just here. It needs to come down. ALL THE F’n WAY DOWN.
We have had the tools necessary to create an equitable society since we left the gold standard in ’71, and if the people ever get the slightest hint of what they could have had with a sovereign currency there will be politicians hanging from light poles in DC like macabre wind chimes. Taxes have never really funded government, but especially not since adopting a fiat currency. Almost everything you think you know about macroeconomics is false, but that is by design and supported by every facet of our government, including a fascist media.
Government funds the private sector when it spends and taxes “cancel” the currency collected, end of story. Only by ripping the balance sheet in half and hiding the half with the private sector behind their backs have politicians been able to con Murika into fearing the debt as something it will have to repay, or leave to burden their children. The “debt” (purposefully misnamed) is nothing but an accounting of all the currency created by Congress (the monopoly issuer) that hasn’t been canceled by taxation. We don’t “owe” $17 Trillion. We “OWN” $17 Trillion, albeit horribly distributed.