so, I'm not sure if you are aware of this or not, but the way money is created in america -and nearly every other country on earth- is through credit. in other words, when banks make loans, money is created simultaneously. also, gdp is measured in usd. and so in other words, in order for gdp to increase, more money needs to be created, which means that more credit needs to be created. when you criticize trump for building an economy with debt or whatever you said, you expose yourself as having absolutely no business writing about the economy.
oh - and by the way, obama had the very first trillion dollar deficit. I believe he may have been into his second term by the time the budget deficit was < 1 trillion. so, obama was creating lots of credit too.
Hmm, every major country that has a central, currency-issuing bank is, knowingly, basing monetary policy (including interest rates) on Modern Monetary Theory. They just don't openly admit it, but that's what they're doing. One economist that has explained MMT well for 'us' lay persons is Ms. Stephanie Kelton; worth the read. https://bit.ly/3eaIRiU
I'm not sure if you aware of this or not, but the fiscal year 2009 budget which Obama inherited from Bush was $1.4 trillion so you have basic facts wrong. Obama massively reduced the deficit during his time in office while growing the economy. I quoted Jeffrey Gundach, founder and CEO of the $140 billion bond-focused investment firm DoubleLine, about the debt under Trump so please go and call him stupid.
so, I'm not sure if you are aware of this or not, but the way money is created in america -and nearly every other country on earth- is through credit. in other words, when banks make loans, money is created simultaneously. also, gdp is measured in usd. and so in other words, in order for gdp to increase, more money needs to be created, which means that more credit needs to be created. when you criticize trump for building an economy with debt or whatever you said, you expose yourself as having absolutely no business writing about the economy.
oh - and by the way, obama had the very first trillion dollar deficit. I believe he may have been into his second term by the time the budget deficit was < 1 trillion. so, obama was creating lots of credit too.
Hmm, every major country that has a central, currency-issuing bank is, knowingly, basing monetary policy (including interest rates) on Modern Monetary Theory. They just don't openly admit it, but that's what they're doing. One economist that has explained MMT well for 'us' lay persons is Ms. Stephanie Kelton; worth the read. https://bit.ly/3eaIRiU
I'm not sure if you aware of this or not, but the fiscal year 2009 budget which Obama inherited from Bush was $1.4 trillion so you have basic facts wrong. Obama massively reduced the deficit during his time in office while growing the economy. I quoted Jeffrey Gundach, founder and CEO of the $140 billion bond-focused investment firm DoubleLine, about the debt under Trump so please go and call him stupid.
*the fiscal year 2009 budget deficit*