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"A nation doesn't have to balance its books. In fact, you can almost say with certainty that the worst thing a nation can do is balance its books, because there wouldn't be enough money to go around, and that's pretty serious."
#RichardMurphy, 2025
https://shows.acast.com/bold-politics-with-zack-polanski/episodes/68f7f3528125b849f840aa4a
@strypey Within the current system, yes, the national debt is also the monetary base.
We need a better monetary system which is not based on interest bearing debt, because a loan does not create the money to pay the interest.
That is why you can choose between constant inflation and periodic defaults.
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