A simple as that you nominal terms and that is by definition unsustainable ultimately you will have to get it to where the debt is not growing faster than the economy and its growing faster in the United States by a pretty pretty significant margin so as you say its growing faster than g. D. P. Is growing faster than g. D. P. It takes 3. 00 of debt to induce one dollar g. D. P. Growth. You know it reminds me of the story about the martin who is pumping formaldehyde into the corpse and saying that no matter how much formaldehyde i pump into this corpse it breathing doesnt get any better and then of course the obvious observation would be well its a corpse the corpse is dead. It doesnt matter how much formaldehyde you pump and so in the case of the Global Economy and in the u. S. Economy in 2008 it does there was this credit crunch as you recall and the solution was to pump formaldehyde in the what is called money but its not money like gold its money its debt its debt right all the quan
A line item the equivalent of the u. S. Military budget so when krugman says its only money we owe ourselves hes wrong of course the United States Federal Reserve bank cannot create assets they cannot create treasuries that is up to the u. S. Treasury the congress to create treasuries so they cannot if youre if were looking to this guy were looking to jay power droom pal yes i have 2 names so everybody gets confused right if you were looking for him to you know basically stop fog all he could do is flog a dead horse hes a Monetary Policy guy hes not a fiscal policy guy theres nothing he can do to change the situation that the horse is dead its only you know you have to keep the horse from dying what in the treasury is debt its a its a short term loan its a 30 day loan or a one day loan its still debt if you look at your dollar bill it says a Federal Reserve note note if you look that up in the best pedia itll tell you its debt debt is a note right there not creating this stunt has noth
To be poorly we could go to my garden. And most excuse. Me to me and my probably. Very warm welcome youre watching R T International with me becky and its great to have you with us our top story this hour the International Olympic committee has stated that russias Sports Movement is cleared of any wrongdoing in the latest anti doping scandal the i. O. C. However says it will support tough sanctions on russian all foresees which have been accused of manipulating anti doping databases this comes after a World Antidoping Agency committee this tuesday recommended a 4 year ban be applied to russia for all major sporting events if youre trying to gave us the details earlier. So just a day after the World Antidoping Agency came out with their accommodation for a 4 year ban on the russian side consisting of many elements the International Olympic Committee Said that it would support the toughest measures against those responsible for the manipulations with the databases but they pointed out th
A potential toxic threat. I want to leave people alone it would be my guardian most to me and most it is cute. To me and my family. Looking back and watching r. T. International with me Mickey Edwards gets out here with us now our top story the International Olympic committee has stated that russias Sports Movement is cleared of any wrongdoing in the latest anti doping scandal the i. O. C. However says it will support tough sanctions on russian all fortys which have been accused of manipulating anti doping databases this comes after a World Antidoping Agency committee this choose day recommended a 4 year ban be applied to russia for all major sporting events if you gave us the details earlier. So just a day after the World Antidoping Agency came out with their accommodation for a 4 year ban on the russian side consisting of many elements the International Olympic Committee Said that it would support the toughest measures against those responsible for the manipulations with the database
Formaldehyde i pump into this chorus it breathing doesnt get any better. And then of course the obvious observation would be well to corpse the corpse is dead. It doesnt matter how much formaldehyde you pump and so in the case of the Global Economy and in the u. S. Economy in 2008 it does there was this credit crunch as you recall and the solution was to pump formaldehyde in the what is called money but its not money like gold its money its debt its debt right all the quantitative easing all the money printing all the bailouts debt with interest costs associated with it and that interest cost now is approaching in terms of a line item the equivalent of the u. S. Military budget so when krugman says its only money we owe ourselves hes wrong of course the United States Federal Reserve bank cannot create assets they cannot create treasuries that is up to the u. S. Treasury the congress to create treasuries so they cannot if youre if were looking to this guy were looking to jay power droom