Unfounded Debt Fears Block Economic Recovery | naked capitalism

Optimal Debt-GDP ratio? Voodoo economics, Keynes?



There are 2 primary schools of thought. Modern Monetary Theory and Austrian.



Then let's separate out currency and debt. Fiat money is debt, not currency.



So, I suppose if the dollar were real currency, printed by the US Govt, then we would have something to discuss, but we don't. So, the debt, not fear of it, is what's blocking economic recovery. Cutting spending and cutting taxes will recover the economy, but as other commentors have observed, it's not about the money, it's about control.



The followers of NC are liberals. They want to elevate the lower classes as long as they are in control. This, too, is a fallacy and exists as part of establishment thinking. The Occupy Movement represented by Sanders in this campaign season and the Tea Party, represented by Trump this election cycle, Ron Paul in the last, have a common enemy in the status quo, the establishment, and until both sides work together, one side will be played off against the other, and nothing will change. The Money Changers will continue to absorb the fruits of labor until there are no more. The sooner we cut them off, repudiate the debt, and begin issuing US Notes, not Federal Reserve Notes, the sooner we can get about the business of economic recovery. There is no optimal Debt-GDP ratio except to maintain the status quo, the debt as money fiat currency cental bank global financial system impoverishing third world countries, enslaving millions upon millions, exploiting their resources all in the name of profit. When will we stop the bankers?



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