Libertarian/Krugmanite pov. Demonstrates a textbook libertarian complete ignorance of authority. Equates government to a firm. Does not understand double-entry accounting. Does not exhibit understanding that "govt debt" is a financial asset account at the Fed for the bondholder.
PODAST: On National Debt, Do ‘We Owe It to Ourselves’? http://t.co/d9lk1HWW9M
— Cato Institute (@CatoInstitute) March 6, 2015
1 comment:
I didn't watch the link stuff, Matt, but I do like your notes above. However, debt -- any debt -- is a source of income to the financial sector, and a cost to the productive sector.
That cost is the problem.
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