The media coverage of the so-called endorsement of the new administration by Wall Street is a combination of misinformation
I know it is not immediate, but for some reasons, nobody has spoken about the sharp increase in US interest rates of the
Elaine Quijano parroted flawed conventional wisdom.
He explained how to use debt to make a profit when the economy sours.
The House will vote this week on a Republican proposal allowing the Treasury to borrow funds to pay bondholders and Social Security recipients if there's a prolonged standoff over raising the debt ceiling. But this approach is extremely dangerous.
Washington owes indemnifications "that rise to numerous millions of dollars," Castro wrote.
The gradual erosion of the U.S. dollar's status as the world's reserve currency has been greatly hastened of late. This is due not only to the perpetual gridlock in D.C., but also our government's inability to articulate a strategy to deal with the reported $126 trillion of unfunded liabilities.
We have turned economics into a morality play. Austerians share a visceral contempt for government deficits. They do not just think deficits are bad as a matter of policy; they think deficits are bad, period. But anyone with a cursory knowledge of economic history rejects this narrative.
How many times do we hear the forces of doom--primarily from the right wing that wants to end just about everything government does that can help the American people--that we cannot going on "borrowing from China"?
So if talking about this stuff is bad policy and bad politics, and if gets you in trouble with fact-checkers, why do it? Instead
We can no longer ignore the fact that the national debt is becoming so large that just spending more and taxing less, and paying the interest on the ever-increasing resulting debt, can soon bankrupt America.