Sir Grappler Truth Teller wrote on Jun 2
nd, 2023 at 10:38pm:
You can't eat theory - tell you what - you go out and alter our governments and business ways of doing things to suit this theory, and we're all ears.
I'm (along with many others) working on it; but as to 'theory', it's fact - even more so than the 'Theory of Evolution'.
From the link in #507:
Prof. Keen:
Fiat creates money for the non-bank private sector; interest on bonds creates money for the (private) banking sector; and the turnover of money creates GDP. Far from the servicing of government debt being a burden on future generations, as Neoclassical economists claim, the payment of interest on government bonds finances the banking sector while the excess of government spending over taxation creates money and positive equity for the non-bank private sector.Prof Keen proves his conclusion using double-entry accounting.
Quote:Same as the voice and the 'gaps' - you fix all those and get all the Cheers on the right track to prosperity without having businesses and cash handed to them to waste first, unlike anyone else gets, and then we'll see how the gap closing goes.
Correct; but - as some researchers reported yesterday, unless we do things differently, the gap will take more than a century to close (!).....
Quote:I seriously cannot wait for McGowan's massive deal to the Geraldton lot to show its fruit...
In the case of blacks, historical/sociological problems have to be dealt with, as well as economic ones.
But government currently cannot
properly resource BOTH the sociological and economic management required to close the gap (including case management down to the individual level)
....because taxpayers object to their
'taxpayer money' being used in such a fashion.
Hence the need for 'government money' - the topic of this thread - to deal with the problem.