Posted 4/15/2019 20:04 (#7441395 - in reply to #7441119) Subject: RE: all I can say is WOW.......
IN555 - 4/15/2019 16:52
My opinion is those deficits are creating serious inflation that most don't want to acknowledge. Those deficits are hurting those the most that the policies creating the deficit are supposedly helping. IMO we have lost all concept of what money really is, it is the representation of trade for goods and/or services. You can not create that.
There is no evidence of serious inflation.
Without these federal government spending deficits the economy would spiral down into recession then depression. The poor and vulnerable would be the first affected by this. For a really good explanation of why listen to this podcast titled "All Countries Are Insolvent and That’s A Good Thing":
Yes, money is just an account of what society owes you in goods and services if you have money in savings, and what you owe society in goods or services if you have any debt. Double entry accounting is how money is created in our system so every dollar in savings has a corresponding debt attached to it. People and business have a desire to save and that savings desire is what determines the amount of the deficit every year. A saved dollar cannot create inflation.