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grr's avatar

You provide a much needed and appreciated service Karl.

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Loam's avatar

Meanwhile the outlaw US empire:

"So the U.S. faces a dilemma. On the one hand, if the U.S. responds to the debt “crisis” by embracing austerity, it will constrain aggregate demand, destroy jobs and erode economic capacity thereby repeating the self-inflicted wounds of past decades. If, on the other hand, it continues to expand public spending through the same dysfunctional institutions, it will also amplify wealth inequality and hasten the international move away from the dollar. That outcome doesn’t look like a default; it looks like long-term decline in U.S. living standards and economic power."

https://warwickpowell.substack.com/p/us-government-deficits-and-bonds?utm_source=post-email-title&publication_id=1965102&post_id=165321231&utm_campaign=email-post-title&isFreemail=true&r=sm9eh&triedRedirect=true&utm_medium=email

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