On Debt

All truth passes through 3 stages: 1)It is ridiculed 2)It is violently opposed 3) It is accepted as self-evident.....Schopenhauer

http://www.gao.gov/financial/fy2011/11frusg.pdf

This document is, amazingly, not heavily read. Page 20 is worth a gander but also pages 45-48 as discussions of the liability side of the Balance sheet rarely give equal time to the asset side. (note to "dollar crashing" hyperventilation ) Net Position is the "bottom line" with all additional notes and fudging.

And then there's this: which illustrates my heavily ridiculed - if intentionally provocative - "Parkhurst Corollary: Economic knowledge is inversely proportional to concern for public debt."

http://www.project-syndicate.org/commentary/does-debt-matter

and this: (and that jean pisani-ferry guy) http://www.project-syndicate.org/focal-points/the-great-debt-debate

Financial repression is a choice...revolution takes guts

One thought on “On Debt

  1. Nic Clive

    Is this along the same lines as The Strokes’ ” It’s not the secrets of governments keeping you dumb…it’s the other way round”

    Reply

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