GhostOnTheHalfShell@GhostOnTheHalfShell@masto.ai
@dlakelan@mastodon.sdf.org @SmithWillSuffice@climatejustice.social
Yeah, like I said, I my eyes sort of likes twitch when I saw that number and I said is this right?.. but your own points bring up an interesting question. Banks do create the principal amount and stuff it into the economy. The total outstanding amount is a function of the total outstanding principle left percolating in economy, or it should be.
.. so the other part would probably be purchased treasuries?
Daniel Lakeland@dlakelan@mastodon.sdf.org
@GhostOnTheHalfShell@masto.ai @SmithWillSuffice@climatejustice.social
I just suspect the Forbes article is repeating something they heard from an economist who didn't have a clue? how could 9 out of 10 dollars come from banks and 1 out of 10 come from deficit spending, yet all money put together is 0.6 of public debt?
