Wasting The Lehman Crisis: What Was Not Saved Was The Economy

Also saved was the idea that the economy needs to keep the financial sector solvent by an exponential growth of new debt – and, when that does not suffice, by government purchase of stocks and bonds to support the balance sheets of the wealthiest layer of society. The internal contradiction in this policy is that debt deflation has become so overbearing and dysfunctional that it prevents the economy from growing and carrying its debt burden

 

https://www.counterpunch.org/2018/09/20/wasting-the-lehman-crisis-what-was-not-saved-was-the-economy/

 

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