This sounds familiar. Since the days of John Hancock this country has had deplorable finances. One would suspect it was baked into the cake from the beginning. Some call it a conspiracy.
[Hancock, John]. [Manuscript Copy of an Unsigned, Secret Letter Discussing the Deplorable Financial Condition of the United States]. 1780.
http://brbl-dl.library.yale.edu/vufind/Search/Results?lookfor=%22GEN+MSS+1081%22&type=CallNumber
Images courtesy of the Beinecke Rare Book and Manuscript Library
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There is roughly $1.5 trillion in circulation but roughly $20 trillion owed excluding unfunded future liabilities, what can possibly go wrong. The labor force participation rate and money velocity cannot be hidden. It's a problem for the whole world when it wakes up to the reality.
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No kidding. The world is screwed due to bad monetary theory. Thanks for your comment.
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