by Usvatte-aratchi
Everyone, including voluble politicians, give tongue that ‘the last government’, no matter which, was responsible for the crippling debt burden that we have suffered from for well over 30 years. No matter which party ran the government, the present debt burden is the accumulation of overspending by the PEOPLE under the baleful leadership of shortsighted governments. None, university professors and pundits included, have blamed us the people who have lived beyond our means. Joan Robinson, who came here in 1958 (?) politely upbraided us somewhat. The government is but us organized for the purpose of governing ourselves democratically. If government overspends and borrows domestically or abroad, it is we who borrow to spend beyond our means. We, the people, will pay back the loans.
汉译世界学术名著丛书700种： 迄今为止人类已经达到过的精神世界 _哲学 sohu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sohu.com Daily Mail and Mail on Sunday newspapers.
Hanke s Inflation Dashboard: The Currency-Devaluation Delusion cato.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cato.org Daily Mail and Mail on Sunday newspapers.
Following a devaluation, inflation will pick up and so will the costs of producing goods and services, including exports, in the country that has devalued its currency.