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User Info No, GDP Did *NOT* Advance; entered at 2018-10-07 10:03:34
Posts: 154622
Registered: 2007-06-26
@Mickey -
Technicaly it's far worse that Karl identifies.

True, but there are clean arguments on many forms of debt (that they don't actually represent inflation.) Debt secured by an asset removes the asset from the pool of available "moneyness" during the time the debt is outstanding. This is why most economists ignore it; they consider them offsetting transactions.

But when it comes to the Federal Government history says that debt is NEVER retired and further there are no assets pledged that are removed from the marketplace and can be seized. Therefore such debt is a PURE monetary expansion -- always.
2018-10-07 10:03:34