John Madden sent a message saying he wants to understand, in simple terms, why the interest payments on public debt are not a problem. He points out how it is used to justify austerity because it intuitively makes sense to waste less money on paying interest – he wants to know why this interest is not a problem, and what if the money which the public owes keeps rising?
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a supporter of Steve Keen on Patreon at https://www.patreon.com/ProfSteveKeen
-
US equities fall, pound rises ahead of Boris’ escape plan
US equities fall in the US. NAB’s David de Garis says a rise in new jobless claims has acted as reminder of how sluggish the employment recovery is. Meanwhile the pound is gaining strength as markets wait to hear Boris Johnson’s escape plan from the UK’s lockdown.
-
May the Wi-FI Wars Commence
Telstra is building 8,000 new Wi-Fi access points across the country. Less than a week later iiNet has announced free Wi-Fi will be available in Canberra. Is this a new battleground?
-
PMIs boosts sentiment; NASDAQ hits new high
Positive sentiment boosts equities still higher. NABV’s Tapas Strickland says its down to better than expected PMIs, a tweet on China trade and hopes of more stimulus.
