Comments by "boz" (@BOZ_11) on "What Happens to Capitalism When None Of Us Have Any Capital Left?" video.

  1. There's no such thing as a Govt "revenue shortfall". A Fiscal deficit is not a debt (the money was not borrowed, it was created). The money to pay treasuries comes from the same place as fiscal spending (thin air). A “fiscal deficit” is a private sector surplus, i.e. it is income for you, I, and everyone else. Conversely, a fiscal surplus (a surplus sounds good, eh?) is a drop in private sector (our!) incomes. Don’t worry about outstanding treasuries, since sovereign Govts cannot involuntarily go insolvent. Worry about private debt (search for: credit delinquency). The proof is that the Tories created a record fiscal deficit in 2020/21, and inflation was below 3%. It only jumped to near double digits once the BoE raised interest rates and utility companies started price gouging (record profits were posted across the whole UK energy sector in 2022)
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