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View Diary: WalMart, food stamps and the great disconnect (16 comments)

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  •  debt (0+ / 0-)

    Debt can obviously be useful if used correctly (for productive assets for example), but in excess it is borrowing from tomorrow, and tomorrow eventually has to be paid for by less consumption at some point. So too much debt in the economy becomes a burden on future growth.

    The three solutions are a) pay it off by forgoing consumption, b) write it off or c) inflate it away. Countries around the world are trying to do c) (hence the fight over chained CPI) without letting inflation take hold. It is very unlikely to work.

    There's room at the top they're telling you still But first you must learn how to smile as you kill If you want to be like the folks on the hill

    by taonow on Mon Apr 15, 2013 at 08:02:34 PM PDT

    [ Parent ]

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