Re: [Pen-l] Michael Hudson -- The Oligarchs' Escape Plan - at the Treasury's Expense

[Jim Devine <jdevine03@xxxxxxxxx>]

>              Finance Capitalism Hits a Wall
>
>            The Oligarchs' Escape Plan - at the Treasury's Expense
>
>            By Prof. Michael Hudson
>
>            The financial "wealth creation"
> game is over. Economies emerged
> from World War II relatively free of debt, but the 60-year global run-up has
> run its course.

it should be mentioned (and I'm not contradicting Hudson) that the
_governments_ in question did not start the post-WW2 without debt. The
US government debt was larger than the US GDP, for example. But this
was a good thing in many ways, since the government's debt was the
population's asset. That moderated the post-WW2 recession, among other
things.
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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