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Debt is a distributional issue. It nets down to zero as for each debtor there must be a creditor.

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.

by generic on Sun Oct 30th, 2011 at 02:40:56 PM EST
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