On 6-Aug-11, at 11:39 AM, Doug Henwood wrote:
>
>
> Because over the long term you just can't create money out of thin
> air and have it be effective. You need to shift real resources - out
> of Jaguars and third houses and into child care and high-speed rail.
> Money is a symbol of the real - a claim over resources and labor.
>
> Doug
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>
Understood. What I don't get though, is how issuing debt effects this unless issuing debt provides a drag on aggregate demand.
Steve Bruns