Originally Posted by
jungle
Great, all of our troubles are over, we can just have the gov print us each 100 million in fresh hundreds. After all, debt is meaningless.
The real debt exceeds 200 trillion including the present value of all social programs. Massive changes will eventually be forced on the world, but it won't be politicians doing it,it will be economic reality.
Keynes was careful to point out debt was acceptable during hard times but should be reduced under prosperous conditions. A simple and key fact ignored for the last few decades.
May I suggest a few books from the Austrian School of Economics if you really want to know the only possible ending ahead for our current situation.
I'm with ya. I too am a Hayek man. But if everyone is hooked on the printing money/boosting aggregate demand, the ones who suffer are those trying to be responsible, so they are forced join the party sooner or later. I hope you're right, but I'm not seeing a way out. At what point do the numbers stop meaning anything?
I'm glad to see, though, that not everyone on this site is a moron. I was beginning to wonder!