This country just exceeded $19 trillion in external debt with no end in sight. Our debt now surpasses our annual Gross Domestic Product (GDP), and we join economic powerhouses like Spain and Greece. Taken as a whole the 28 members of the European Union are at a debt level of 162 % of their combined GDP and the G-20 members are at 74.8%. With so many of the largest economies in the world behaving so irresponsibly, we are probably in trouble.
Central bankers should understand that printing more money and driving interest rates into negative territory is really a bad idea. But then just how squishy are they when comes to resisting the anxiety of politicians whose understanding of economics is limited to believing only large increases in the money supplies allow them to keep their jobs.
Trying to pass laws against the business cycle is never a good idea. If humans were meant to control rather than respond to the economy, God would have given them moral courage and infallible intellects.
So clearly stated truth:
RE: “This country just exceeded $19 trillion in external debt with no end in sight. Our debt now surpasses our annual Gross Domestic Product (GDP), and we join economic powerhouses like Spain and Greece. Taken as a whole the 28 members of the European Union are at a debt level of 162 % of their combined GDP and the G-20 members are at 74.8%. With so many of the largest economies in the world behaving so irresponsibly, we are probably in trouble.
Central bankers should understand that printing more money and driving interest rates into negative territory is really a bad idea. But then just how squishy are they when comes to resisting the anxiety of politicians whose understanding of economics is limited to believing only large increases in the money supplies allow them to keep their jobs.
Trying to pass laws against the business cycle is never a good idea. If humans were meant to control rather than respond to the economy, God would have given them moral courage and infallible intellects.”