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Robert Billyard's avatar

So when it comes to military spending and filling the pockets of the rich money is water under the bridge. When it comes to social spending and prosperity for all the water turns into an iceberg.

It might be said America is a slave state picking very bloody cotton for its aristocrats.

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Daniel J. Brown's avatar

Excellent article. One thing to note however is the inflationary export effect, particularly to the global South, of US profligacy. It may not inflate the domestic situation, at least not on the scale it affects those Nations forced into being pegged to the currency of the failed US experiment.. but when Uncle Syphilis prints and for example, buys oil for its own “reserves”, entire Countries collapse due to a short fall of both that necessary commodity and the currency to secure it. In this way, the latest (92nd?) technical default is just another way to pilfer the Wealth of other Nations. Therefore it does indeed matter.. a great deal.. and it needs to be stopped.

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