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Debt. The debt is a huge problem just like a cancer patient has a problem with pain. But it isnt healthy to be but it is analytically unhelpful to be thinking in terms of the debt crisis. We might as well refer to the crisis we are going through as the savings crisis, a crisis caused by too much savings. You have never heard anyone from bloomberg refer to it as a crisis of a glut of money with nowhere to go, but it is, just as much as it is a crisis of debt. Lets begin at the beginning. Lets talk about debt. Reading the mainstream outlets, newspapers, or listening to the idiotic stations like fox, hyou would think that it is possible to have capitalism without debt. Recall of feudalism. Well, it isnt. Once, it was possible to have an economy with debt that is marginal. Recall feudalism. What was the process that led to the accumulation of wealth . It began with production. Peasants work on the land. They produce wheat, corn, so production came first. Then came distribution. That would

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