The First Fiat Bubble - and Bust
The question hangs in the air: why is the teenager who makes the least amount of money among us getting a phat bank, when everyone else has to pay in? Here the conversation devolves into a discussion of fairness, equity and the like. Funny money does funny things to logic. Try to explain it to a 14-year-old. “I want people to understand that the deficit and the national debt,” Dr. Stephanie Kelton, author of The Deficit Myth, “are not obstacles to progress and that our government can always afford to fund its priorities.” The priority in this case is a $1.9 trillion spending bill. We still can’t help but chuckle while writing it.