2 comments on “Bankrupt America: Bankruptcy Soars As The Country Grapples With An Unprecedented Debt Problem

  1. The only solution I see to this problem is to end the ability of private banks to create money. At present the only way to issue money into the economy is for people (and governments) to borrow money. When there is insufficient money circulating you get recession, depression and deflation. Thus when the government doesn’t borrow enough, the private sector must borrow just to keep the economy going.

    We could end the the problem tomorrow by simply enabling government to issue money directly into the economy (debt-free) and cutting private banks out of the loop.

    Liked by 1 person

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