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The U.S. is NOT Bankrupt – It’s Impossible
I’ll try to make this point again: the U.S. government can NOT go bankrupt. It’s impossible for it to default on U.S. government bonds. Just like it’s impossible for Japan, Australia, Canada, the...
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The Misunderstood National Debt
A colleague asked for my thoughts on this article/column by Michael Manning in the State News, the Michigan State student newspaper, so I thought I’d post it for all. Basically Mr. Manning reaches the...
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Government Bonds are Just Like Government Money
Government debt is not like private debt. Government debt, government bonds, are really just another form of the government-issued fiat money obligations – just like paper money. There really is...
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