VOODOO ECONOMICS: ‘The Slow Crash’, The Shrinking of the Real Economy – By Michael Hudson and Bonnie Faulkner

RIELPOLITIK

Source – gunsandbutter.org

“…the economy is being run primarily by the banks for their own interest. The bank’s product is debt, because the banks want to make sure that they can get paid for the debt. But ultimately the only party that can pay the debt is the government, because it runs the printing presses. So the debts ultimately either are paid by the government, or they’re paid by a huge transfer of property from debtors to creditors – or, the debts are written off. Throughout history, the only way of restoring stability is to write down the debts”:

(The Slow Crash. The Shrinking of the Real Economy – By Michael Hudson and Bonnie Faulkner)

Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing part of the economy in every country has been the Finance, Insurance…

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