Profile image
By Center for a Stateless Society
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Debt: Can’t Live With It, Can’t Live Without It on Feed 44

Saturday, July 4, 2015 22:18
% of readers think this story is Fact. Add your two cents.

(Before It's News)

C4SS Feed 44 presents Kevin Carson‘s “Debt: Can’t Live With It, Can’t Live Without It” read by Mike Godzina and edited by Nick Ford.

The problem is that the tendency of state capitalism is to increasing levels of stagnation, with larger and larger deficits required to prevent depression. Even in the upswing phase of the business cycle, the U.S. government must run deficits that are enormous by historical standards. And this means snowballing government debt as well. If balanced budgets were the rule, the economy would go into a chronic state of depression — something that almost happened in the Great Depression, but was averted by the permanent war economy that emerged around 1940. If the government debt was paid off, the trillions in capital dumped back into the economy would drive the rate of profit down to catastrophic levels.

Of course this is unsustainable, necessary or not. As deficits grow larger and interest on accumulated debt grows as a share of the government’s budget, we approach a tipping point at which a fiscal train wreck becomes unavoidable.

Feed 44:

Bitcoin tips welcome:


Flattr this!

The Center for a Stateless Society ( is a media center working to build awareness of the market anarchist alternative


Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.