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Dr S,That opinion of yours isn't just "IMO" .....................

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03/05/21

11:02

Post #: 52890416
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Originally posted by DrStrangelove: ↑

Debt to drive commerce is a good thing .. the idea of public deficits was invented by the English to finance their naval fleets, which in turn created massive industry, innovation and the industrial revolution in large part. Even the Bank of England was formed by offering guaranteed 8% ROI so it could finance the navy and and allied domestic industry.

The navy protected the merchant marines and massive international trade.

Our deficit appears to be there to pay dividends and prop otherwise non performing commerce. The economy is mirroring a public service, even so far as to implement PS human resource policies and all the high overhead paperwork and admin that goes with it.

We don't have much to show for a trillion dollar commitment.

IMO

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Dr S,

That opinion of yours isn't just "IMO" .................. there are plenty that think the same way.

MI
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