Jul

21

This is the current universally accepted monetary model of our earth-centered universe:

1. Aggregate money surpluses from whatever source (whether private savings or government lending to itself) equals aggregate investment — the stuff we use to make more stuff and do more things
2. The amount of aggregate debt has no impact if the government stands ready to lend and guarantee more
3. All investment is equal– a Pell Grant is the same as a bulldozer


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