Let’s start with the ‘when’ of the equation. To put it in its simplest form, the critical point our Keynesian economy will be at is when the U.S. completely lacks the ability to sell any of its debt, and consumers are unable to take on any more debt.
Using the three farmer analysis in reference to foreign holdings of U.S. treasuries; Remember that when $100 left the farmers’ economy, there was only $200 to repay $330 worth o [read the full story]