Add new comment

Although the concern about private debt is valid, the comparison of Federal Debt to the debt of a household is a great mistake. Households don't have a "central bank" where debt can go to die. Don't forget that interest paid to the BoC on bond holdings is remunerated (minus administrative fees) to the Federal Gov't. The Chartalists have been trying to point this fact out since the 1920s, but STILL we have this delusion about the nature of Debt in matters of Monetary & Fiscal Policy. So watch this video with a large grain of salt...and don't swallow it whole