It seems to me that with the extraordinary deficit that the American budget is experiencing, there can only be a flight into a war economy for the light bulbs in Washington. We must not forget that what really brought America out of the crisis following the crash of 1929 was the Second World War. Since imagination is not the first quality of the so-called governing elite in the West, the old recipes are still used. And what's more, they are once again enriched by them.
I just read the back cover of this book (in French since I am French). If I understand the general idea of this book, a deficit is not a problem. I think you'll have to explain that to the Greeks, for example, who were strangled by the IMF because of their deficit. And certainly, when you're the United States and you've got the whole world financing your colossal deficit with the dollar, an abysmal debt is nothing.
How about being a little serious, don't you think?
Reading the back cover of a book isn't even the Cliff Notes version of what's inside. You have just flaunted your intellectual laziness.
No country can fail to cover its debts if they are in their own currency. The problem that Greece faced was that their debt wasn't in their currency, drachmas, but in Euros, which they do not control.
Moreover, the US debt and the deficit are not the same thing.
Maybe if you strained yourself actually to read a book, you'd learn something.
It seems to me that with the extraordinary deficit that the American budget is experiencing, there can only be a flight into a war economy for the light bulbs in Washington. We must not forget that what really brought America out of the crisis following the crash of 1929 was the Second World War. Since imagination is not the first quality of the so-called governing elite in the West, the old recipes are still used. And what's more, they are once again enriched by them.
Please read Stephanie Kelton's book The Deficit Myth.
I just read the back cover of this book (in French since I am French). If I understand the general idea of this book, a deficit is not a problem. I think you'll have to explain that to the Greeks, for example, who were strangled by the IMF because of their deficit. And certainly, when you're the United States and you've got the whole world financing your colossal deficit with the dollar, an abysmal debt is nothing.
How about being a little serious, don't you think?
Reading the back cover of a book isn't even the Cliff Notes version of what's inside. You have just flaunted your intellectual laziness.
No country can fail to cover its debts if they are in their own currency. The problem that Greece faced was that their debt wasn't in their currency, drachmas, but in Euros, which they do not control.
Moreover, the US debt and the deficit are not the same thing.
Maybe if you strained yourself actually to read a book, you'd learn something.