Debt and Deficit in a Nutshell скачать в хорошем качестве

Debt and Deficit in a Nutshell

The world's most simple national debt and deficit explanation. Written by: Dr. John Harvey Adapted and animated by: Tschäff Reisberg Deficit = government expenditures - government receipts Debt = accumulated deficits Original Text: http://rommeldak.wordpress.com/2010/1... Dr. Harvey's article in Forbes: http://www.forbes.com/2011/03/18/defi... To learn more about inflation and what we have to fear see: http://rommeldak.wordpress.com/2010/0... Mosler's $100M bet that government can't go bankrupt: http://moslereconomics.com/2010/10/22... F.A.Q.: https://sites.google.com/site/softcur... Forum discussion about the script: http://overthepeak.com/wordpress/arch... More thoughts on a technology driven consumption trap where technological advances lead to a drop in demand and employment: http://rick.bookstaber.com/2010/10/i-... This analysis applies to any sovereign, fiat, non-convertible, floating exchange rate currency issuing federal government such as Canada, Mexico, Japan, Singapore, Australia, and England not currency using governments such as California, Greece, Estonia, or Venezuela. For the government to run a deficit (a flow), it spends more than it taxes. National debt (a stock) is the accumulated deficits for a nation. For a currency issuing government to tax or borrow, it must first issue the currency. The national debt is equal to all government spent into the economy and didn't tax away- the combined savings of everyone in the economy. The only way to eliminate the national debt is to drain the all savings from everyone in the economy. As one can imagine this would have disastrous consequences for the economy. Thanks to Egahen for the walnut image and Adi007 for the people and city.