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So Debt Deflation can't happen?
George Monbiot Seminar | Steve Keen's Debtwatch
I tried to point out that since the rate of change of debt contributes to aggregate demand (for both newly produced goods & services, and existing assets), then the change in debt matters, but I made no headway at all with the argument.
Of course, it would be far better to couple that with a fairer distribution going forward (which probably requires taxation as you'll find it very hard to prevent the commercial roles from taking a big bite). In effect, you'd be replacing change in the debt level by redistribution in order to get money in the hands of those likely to spend it. Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
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