We look at the latest data from the US Treasury. $23 trillion of debt and counting. What could possibly go wrong?
And does Australia have “Fiscal Space”?
The Debt Machine Expands Some More
3 thoughts on “The Debt Machine Expands Some More”
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Interesting point of view from the Austrians – https://mises.org/library/how-central-banks-fund-our-age-endless-war extract “No government has ever said, “Because we want to go to war, we must abandon central banking,” or “Because we want to go to war, we must abandon inflation and the fiat money system.” Governments always say, “We must abandon the gold standard because we want to go to war.” That alone indicates the restraint that hard money places on governments. Precious metals cannot be created out of thin air, which is why governments chafe at monetary systems based on them.”
A real economy uses real money – gold, silver.
No interest theft, just shared investment.
No speculation and derivative gambling.
No selling of debts.
Backed by common law .
Real money debt was owed to someone. Credit debt comes from nowhere, so is owed to who? Hence, the meaningless term “world debt ” . It is a joke, a con game to enslave people and nations. In fact, the debt is owed to the people (creditors).