An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Without the government enforced/backed counterfeiting cartel, the banking system, most of us would be significant owners of "the means of production." But some of you (Dan K?) defend a money system that is based on usury for stolen purchasing power. How was that ever supposed to result in an equitable outcome?But keep pretending that a few bad actors caused this mess and not the money system itself, eh?
Household debt is only1/4th of total debt...the other 3/4th's (business) can't make their payments unless households buy their products.Household debt is the problem...business debt doesn't increase aggregate demand, so it doesn't put upward pressure on prices.
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