Home » xyzzy » Dungeon » Modern Monetary Theory (or, how I stopped worrying about the natl debt.)
Re: Modern Monetary Theory [message #91660 is a reply to message #91626] Sat, 04 April 2020 09:58 Go to previous messageGo to previous message
Rusty is currently offline  Rusty
Messages: 1188
Registered: May 2018
Location: Kansas City Missouri
Illuminati (3rd Degree)
In pre biblical times in the middle east and surrounding kingdoms. Debt would be cancelled when it got too large to be paid. It was know as Jubilee. After WWII, Germany had it's wartime debt cancelled, rubbed out, and it's economy came back from the ashes of war. Michael Hudson, an economist and historian gives a good argument to why this ancient practice should be practiced again. https://michael-hudson.com/2020/04/npr-cov-19-and-america-is-strapped/
Our current POTUS should understand this quite well. He's used debt cancellation with his business failures several times in the form of bankruptcy.
 
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