It might make you feel better but tomorrow if the US Federal Government, or Australia or the UK repaid the entirety of its national debt, it would make not one dollar’s difference to your bank account.
In fact the economy would tank.
“If America repaid all its national debt tomorrow, we very likely would crash into the mother of all great depressions long before the debt is ‘paid off’”, says economist, Professor Randall Wray.
You can read the rest @
https://medium.com/@ClaireConnelly/what-if-every-government-paid-off-its-national-debt-fc3267829fe5
Wouldn't it be nice if economists could figure out a way for us to survive without sovereign debt? Just what is the federal government doing for us anyway?
How about trying this? Free access to raw materials + free access to basic technologies + neighbors helping neighbors = the ability of everyone to feed, cloth, and house themselves in a cooperating community.
It works for the Amish, why can't it work for the rest of us?
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