On Seeking Alpha it has been pointed out that state governments are facing grave financial stress. One proposed solution is ongoing deficit spending.
However, to my knowledge, state governments cannot deficit spend forever - unless the Federal Reserve Bank is abolished and is replaced by (privately owned) central banks in each state that can print fiat mney to cover the local spending deficits.
California - the gorilla in the United States - is cracking under the strain of ongoing deficit spending.
Usury banking requires a periodic year of jubilee when compounded debt has to be written off one way or another.
No compounded debt tree grows to the sky. Otherwise the ancient Roman Empire would still be here. Debt drove its native farmers off the land, forcing them to migrate to the fringes of empire or Rome and leaving their land to be worked by new waves of debt free immigrants.
California has been exporting its former land owners to Idaho, Utah and Colorado and importing hordes of cheap workers from Mexico. This has not shored up California's state finances.
The darkness is now here whether it is being cursed or not.
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A place to post my writing in journalism, fiction, poetry and rants.
