Debt Ceiling Dummies

So I ran across this article in the LA Times.  As it’s an opinion piece, I am not looking for everything to be substantiated, but when the author started stating some stupid shit, I had to comment on it. The author states “Remember, raising the debt ceiling doesn’t drive the country deeper into debt. The […]

The IOU song

Saw this on Save Capitalism today.  Good stuff to help illustrate what terms like “credit” and “lending” really mean – IOU. gk

Getting a loan

I’ve read many stories in the past few weeks about how hard it is to get a loan now.  All the stories are saying the same thing – banks aren’t lending, people can’t get loans, so the economy is tanking because people can’t borrow money to buy things. Bullshit.  This past summer I had to […]

Just Something I Found Interesting

I was aimlously surfing tonight when I found this: In a credit-based economy, a fall in money supply leads to markedly less lending, with a further sharp fall in money supply (since debt is money), and a consequent sharp fall-off in demand for goods. Demand falls, and with the falling of demand, there is a […]