The goal of borrowing and blowing trillions was to re-invigorate “growth”— any kind of “growth,” no matter how wasteful, unproductive or even counter-productive it might be: wars, nation-building, ghost cities, needless MRIs, useless college diplomas, bridge to nowhere–anything the borrowed money was squandered on counts as “growth” in the Keynesian status quo.He continues on with charts to show that this growth is debt-fueled and the economic returns are minuscule. Indications of this are the current phenomenon of everyone having a debt-score, debt burdened consumers, sovereign debts, and wars. The debt is owned by the "One Percent" of the capitalist world who are launching wars as a desperate means of having their debts repaid by conquered territories, control of resources, cheap labor, and consumer markets.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Friday, January 8, 2016
2016 Theme #4: The End-Game of Debt-Fueled “Growth”
Click here to access article by Charles Hugh Smith from Washington's Blog.