The Problem well put. (HT Scarfie from Interest.co.nz)

http://market-ticker.org/akcs-www?post=203238

a taste:

I’m going to spend the time today talking about some pretty basic stuff, but it’s material that none of our politicians seem to want to cover, and none of our wonderful mainstream media wants to pay attention to either.

Good start, eh? Then:

This is where the “MMT” clowncar brigade goes off the rails.  They try to claim that government borrowing is somehow “special.”  They’re wrong, because all units of credit and currency are fungible — once they get into the economy exactly how they got there is of no consequence at all.

And:

There is a limit to this stupidity, and we’re there.

Touche. Great piece, good read.

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