The Government “Debt” Flim Flam

golden egg

*+-Mark Dempsey: American government has the legal right to create literally unlimited dollars, so it can never be insolvent. It will run out of dollars when the Bureau of Weights and Measures runs out of inches.

Enlightened Economics: There Is an Alternative

money lesson

*+-Mark Dempsey: One Modern Monetary Theory economist suggests sending each American household $50,000 to pay down debts, which would not only be cheaper than the $16-$29 trillion Wall Street bailout, it would bail out Main Street instead of the banks.

If the Tea Party Were Liberal

tea party decline

*+-Tina Dupuy: If liberals were doing to their country what extremist tea party Republicans are doing to theirs – it would be called unpatriotic. A whole tsunami of sound bites would sweep the country calling for the sabotage to stop.

Why China’s Currency Announcement Is Hockum

china currency

*+-Robert Reich: Don’t be fooled into thinking that US companies will continue to make big profits from sales in China. China allows big U.S. and foreign companies to sell in China on condition that production takes place in China – often in joint ventures with Chinese companies. It wasn’t American know-how, so it can eventually replace the US firms with China firms.