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Trickle Down v. Zero Sum
Aug. 22nd, 2012 11:31 amHas anybody else noticed that the people now complaining about the US National Debt and going on about tax cuts, also seem to have gone from believing that the money supply and 'value' grow over time due to economic production to there is a fixed quantity of wealth and that it can get used up...
Economic Growth and Inflation are known, tried and tested ways of reducing debt, often faster than repaying it.
By the time my parents finished paying off their first mortgage (1987) my father had credit cards with larger limits than that mortgage... actually, come to think of it. I HAD credit cards with about that much credit by then.
Economic Growth and Inflation are known, tried and tested ways of reducing debt, often faster than repaying it.
By the time my parents finished paying off their first mortgage (1987) my father had credit cards with larger limits than that mortgage... actually, come to think of it. I HAD credit cards with about that much credit by then.
