Julio Huato wrote:
> economies have left behind high rates of indebtedness (private or public
> doesn't really matter as much as some people think)<
Actually, it does matter. Private corporations and individuals can go
bankrupt, but a big strong organization such as the US government,
with the power to tax and/or print money isn't going to do so during
the foreseeable future. If we're worrying about the US economy's
future, private-sector debt is much more of a threat.
--
Jim Devine
"Those who take the most from the table
Teach contentment.
Those for whom the taxes are destined
Demand sacrifice.
Those who eat their fill speak to the hungry
of wonderful times to come.
Those who lead the country into the abyss
Call ruling too difficult
For ordinary folk." – Bertolt Brecht.
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