There has been a surge in public debt in the US and other countries around the world. Are we going to face a looming currency crisis? In this episode, we talk to Jim Rogers and Peter Westaway to unpack these themes.
#jimrogers #usdebt #economy #debtcrisis
Thank you for posting these videos. The guests are knowledgeable and no one disrupts or talks over each other. It makes watching easier. Great job.
Canadian here. I’ve been hearing my entire life how national debt is going to ruin our country and ruin the world both, in the United States and Canada, and every other advanced western nation. I don’t worry about it anymore. America can print it’s own currency and if it truly wanted, could delete its debt very quickly. That would not be good for the economy. History has shown that the seven times the US has reduced its debt to zero, a recession followed. Remember, US debt is mostly held by American US treasury holders. So US debt is equivalent to people’s saving, and deficits are investments in the economy, in the form of investments in people and infrastructure. What does scare me is inflation, which must be watched when printing more money. And what also scares me are austerity measures which end up grinding the economy down. Anyone interested, I suggest reading “The Deficit Myth” by Stephanie Kelton. She is a professor of economics, and while not every macro economist agrees with her perspective, she makes convincing arguments. Governments often do what is in the best interest of big banks and big companies, and not always what’s in the best interest of its people. Austerity might be great for big banks in big corporations, but does it really help out the average Joe? It’s just a thought. Y’all have a good day.