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Deficit hawks have a hard time understanding that government deficits are assets in the private sector. Without a deficit, there's no monetary system or assets. Alternative assets don't offer the same liquidity or default-free risks as T bonds. Wall Street and the financial industry love the deficit. In that, they can create financial instruments to create wealth for themselves.
Deficit hawks have a hard time understanding that government deficits are assets in the private sector. Without a deficit, there's no monetary system or assets. Alternative assets don't offer the same liquidity or default-free risks as T bonds. Wall Street and the financial industry love the deficit. In that, they can create financial instruments to create wealth for themselves.
Great post.
It is obvious that Wall St calls the shots, the wealth gap has never been greater since the Deficit has skyrocketed after the Clinton years. It is now crystal clear that this was done on purpose.
Bush and Dodd hell bent on creating more and more debt with their "everyone should buy a home" inititiative. Why do you think Wall st soared in the early 2000s while main st floundered.
Then when the entire ponzi debt system collapsed - The GOvernment Magically bailed out WALL ST!!! While guess what- Main St went to hell!!
Do you realize Wall st has had a very good year? - That is until the last few days while the fiscal cliff has been talked about.
Sorry to rant.
Great post.
It is obvious that Wall St calls the shots, the wealth gap has never been greater since the Deficit has skyrocketed after the Clinton years. It is now crystal clear that this was done on purpose.
Bush and Dodd hell bent on creating more and more debt with their "everyone should buy a home" inititiative. Why do you think Wall st soared in the early 2000s while main st floundered.
Then when the entire ponzi debt system collapsed - The GOvernment Magically bailed out WALL ST!!! While guess what- Main St went to hell!!
Do you realize Wall st has had a very good year? - That is until the last few days while the fiscal cliff has been talked about.
Sorry to rant.
I agree.
The wealth should accumulate in mainstreet. Instead of creating assets in the financial sector, there needs to be QE in mainstreet.
I doubt there is any danger of the Federal debt disappearing in our lifetimes. One less thing to worry about. Just like Universities complaining they can't find enough smart people to be professors because they are going into politics.
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