Debt Rattle September 6 2017
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Edward Hopper Summer evening 1947 • Irma Becomes Most Powerful Hurricane Ever Recorded In Atlantic (G.) • Australia: Classic Mortgage Ponzi Fin
[See the full post at: Debt Rattle September 6 2017]I find it extraordinary that we get told over and over again something that is totally untrue. Banks do not lend savers money to borrowers. I repeat Banks do not lend savers money to borrowers. Rinse and repeat a thousand times a day. When Banks lend money they create it by crediting an account. As the money is repaid that money is deleted from the record. The Banks collect the interest. Government deficits and surpluses are not good or bad; they are merely tools that help run an economic system. A sovereign Country is not limited by the amount of money it collects by taxation. If anything income tax is a method to reduce inequality. Deflation and inflation are description of consumption that is all.
Patricia
If anything income tax is a method to reduce inequality. Deflation and inflation are description of consumption that is all.
If that was ever true (I have my doubts); it most assuredly is no longer the case; for decades…Nevertheless there is reality. There is no magic money tree. The resources available to a nation are strictly real and finite in roads, railroads, manpower, grids, etc, and printing six more digits on a computer somewhere doesn’t change that. A country is not specifically limited by a certain style of taxation, but excessive taxation or central control has historically savaged economic innovation and output. Always.
Money is a representation, a map of the economy, the underlying reality. The map is not the territory. And it can be altered, corrupted, misrepresented, and it amazingly, overwhelmingly, provably has.
Neoliberalism is a Form of Fascism
Absolutely true but I think more the Trotskyite neo-Bolshevik kind and certainly dripping with acidic anti-Logos. Western democracies, home of the ultra-harmful family-oriented WASP male, are becoming neutralized and ghettoized, with
“think tanks”, mass media and the educational system supplanting the Rabbinical class. The most important reality is that the entire scheme, from the get-go, has been a premeditated subterfuge to use the power and wealth of others to elevate the “chosen” few to the Heavens. Tenacity and stealth can, over time, wreak havoc when confronted with opponents whose relative temperament is one of good will and fairness.
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