Elliott Wave International’s 3-minute video documents US debt securities being sold by other nations’ governments (and here). This is in context of the historically ever-increasing US federal government’s $18 trillion debt. US “leadership” chose to somehow “freeze” their debt for the last 200 days, a seeming impossibility, with “debt ceiling” again addressed in Congress as ongoing theatrics.
Demonocracy’s 2-minute video to visualize the unimaginable magnitude of not millions or billions, but trillions of dollars in US federal government debt:
The so-called “developed” and “leading” nations have total central government debt pushing $50 trillion($50,000,000,000,000). This accelerating debt is directly connected to these “former” colonial nations creating what is used for money as debt through bank oligarchies. These mechanics are like adding negative numbers forever; causing ever-increasing and unpayable aggregate debt.
The Emperor’s New Clothes obvious pathway out of these mechanics is to start creating debt-free money (a positive number) for the direct payment of public goods and services. Infrastructure investment that returns more economic output than cost of investment produces triple benefits:
- upgraded infrastructure,
- employment, and
- falling prices because total output is greater than cost.
These mechanics have been tested and documented since Benjamin Franklin’s days in colonial Pennsylvania, and affirmed by leading American minds like Thomas Edison, and supported by 86% of US economics professors when directly asked.
I have two academic papers to walk any reader through these facts; an assignment for high school economics students, and a paper for the Claremont Colleges’ recent academic conference:
Teaching critical thinking to high school students: Economics research/presentation
Seizing an alternative: Bankster looting: fundamental fraud that “debt” is “money”
…click on the above link to read the rest of the article…
