Debt Rattle November 11 2016
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Leonard Cohen 21 September 1934 – 7 November 2016 • The End of Growth and the Rise of Trump (Tyee) • Donald Trump Is Moving To The White House, And Li
[See the full post at: Debt Rattle November 11 2016]You know your old, when the greats’ you grew up with, are dying.
One by one they go and you know you will follow; when? Who knows; but as sure as the sun rises, you will follow.
RIP Leonard; you were one of a kind…Try not to take too much offense at being called an economist. I’m sure he meant it in the best possible way.
A twiddler, a dreamer, a jabberbox. A bad egg.
China shouldn’t repeat the mistakes of the West? Probably not, but what’s the alternative? If a country wants to “boom,” how can it do that without more and more debt? I am sure someone has a detailed analysis on how to grow ad infinitum without more debt, but I haven’t seen it. If there is such an analysis, I suspect it makes a lot of pie in the sky assumptions, e.g. Julian Simon and changing nickel into copper or uranium from seawater.
“If a country wants to “boom,” how can it do that without more and more debt?”
Umm, create money directly by marking up bank accounts without issuing corresponding debt? Pretty straightforward. There is nothing stopping a sovereign from doing so beyond politics and mythology.
However, all currency is technically “debt” because in double-entry accounting one side of every transaction is a liability (a debit).
About the India currency notes cancellation.
Here is the official angle. It’s got to do with Pakistan and counterfeit notes.
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