By: rick shapiro
“Collectively, wealthholders can’t get rid of that cash by spending; they can only trade/swap that money around” But government can, by taxation. Per MMT, that (not financing government) is purpose of...
View ArticleBy: paddy
Pentagon assets: never pass an audit; largely because contract ‘specified delivery’ is not audited at receiving. So GAO says we don’t know what to “price” in the balance sheet. Pentagon assets: what...
View ArticleBy: PrahaPartizan
Paddy, regarding the DoD and defense spending, one really does need to look at it like insurance. We all buy insurance and use it only rarely. Generally, we’d do just as well to simply burn the cash...
View ArticleBy: paddy
In reply to PrahaPartizan. I buy insurance because of a peril. Insurance is a charge, not an asset. Otherwise, knowing that DoD does not audit what they buy or sustain what they own, US might be better...
View ArticleBy: Steve Roth
In reply to Kaleberg. The love of friends and family is also an asset. But it is not a numerically measurable asset on anybody’s balance sheet.
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