Comments by "boz" (@BOZ_11) on "CNBC Television"
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The USA’s fiscal “deficit” is actually private sector income (double entry accounting). By the same token, a fiscal surplus is actually a private sector deficit (a loss of income for individuals and private companies), and who would wish to be poorer?
The money for fiscal spending was not borrowed and is thus not owed. Even treasuries are mere savings vehicles, honored by the US Treasury, and the money to pay them comes from the same place as fiscal spending: thin air. If “the debt” was real, the ‘debt ceiling’ couldn’t be moved at will (except it has, 70+ times), nor has the USA ever reneged on a treasury security, and cannot renege involuntarily (key word)
Rate hikes cause inflation as well as unemployment, since it makes money more expensive, and 95% of the money supply is bank credit. The decrease in the money supply caused by higher rates (which is deflationary) is massively off-set with the higher price setting of money (which is what an interest rate hike is). Looking at historical data, when overlapping inflation with rate hikes, you'll see that rate hikes precede inflation the overwhelming majority of the time, going back to the 1930s.
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