Taking the geniuses at McKinsey and Bloomberg to task for money moronism.
Fearmonger much? I find it hard to believe that neither McKinsey or Bloomberg is aware of the fact that the “debt” of sovereign governments *cancels* the debt of the other side of the balance sheet–the private sector. In this mathematically-moronic piece, they’re counting the money supply twice!…
This kind of nonsense hysteria-mongering is a transparent attempt to stir up sentiment against government spending, which would *pay off* the private debt, and deprive the vampire squid of it’s endless gushers of blood from our arteries. That’s the last thing the shills at Bloomberg and their vampire masters on wall street want to see happen.
How about some responsible reporting for a change? Government debt on one side of the balance sheet and private debt on the other, so we can see where we *really* stand?
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