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Steve Keen considers the following as important:
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Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Mike Norman writes Class
Mike Norman writes Episode 8 (S2) of the Smith Family Manga is now available — Bill Mitchell
Michael Hudson writes Beyond Surface Economics: The Case for Structural Reform
Nick Falvo writes Homelessness planning during COVID
Could sell peerages
Unless the country is running a trade surplus?
Yes but not all countries can run a trade surplus at the same time
They've got people convinced that a federal government's budget has the same restraints as a household budget.
But if they run at a loss and we pay interest, that's wasted money from my bank account too. This year's tax receipt showed interest in debt is becoming quite significant. When paid with interest paid on mortgages, were giving a lot of money to banks for something nobody really asked for.
No Peter, if you own government bonds (or have a pension fund, etc., that owns them), government interest payments ADD money to your bank account. Yes you pay money to the banks when you pay mortgage interest, but again it's an accounting fallacy to equate your household situation to the government's.