Why Paying Off the National Debt Will Result in an Economic Downturn

Seven times in US history, the US government has run a budget surplus and tried to either pay down or eliminate the US national debt. All seven attempts resulted in an economic downturn shortly thereafter. Let’s look at the data. 1.) 1817-1821: 29% of national debt eliminated. Depression occurred in 1819. 2.) 1823-1836: 100% of[…]

Fix the Debt – One Group’s Efforts to Cause an Economic Depression

Derp: (noun): Foolishness or stupidity. In the profession of economics, there’s a lot of derp. I mean, a lot of it. In fact, when it comes to economics, derp is everywhere. On TV, derp is there: from Fox Derp, Bloomderp, CNBDerp and Derp Dynasty, to MNSBDerp and Derp Maddow. Newspapers too, like The New York[…]

On The National Debt: Is Trump Telling the Truth?

On Monday, CNN ran a story with the headline: “Trump: U.S. will never default ‘because you print the money’” which raised some eyebrows. The general public, trained by mainstream “economists”, the media and politicians had a freak-out moment, claiming that Trump is nuts. Firstly, because the general public thinks that the national debt is an[…]