A Most Dangerous Assumption: Mining the Future to Spend More Today
What the cheerleaders are actually claiming is the process of adding zeroes to "money" is limitless, but there are limits on the utility of devaluing currency, too.
How prosperous would the world be if we hadn't collectively borrowed and spent $315 trillion----333% of global GDP? We all know the answer--not very prosperous at all, for production, consumption and profits would all be mere fractions of their current totals if we could not borrow money and could only spend cash on hand. Global Debt Hit $315 Trillion I…
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