Via TruthtoPower: U.S. Economy 101 (in Plain English, with Humor!): How the GOP and the Media Are Shucking You
Be honest: You and most people are affected by the economy, but you only have a glimmer of an idea why it’s screwed up. There is the massive disinformation campaign put on by the billionaires who control millions spent by companies’ lobbyists, Astroturf grassroots activist groups, and propaganda outlets like Fox News to make the common thinking on the economy their thinking. Here’s a 101 on the our economy, and why the fear-narrative on debt ceiling talks and cries of America going broke are a lot of hooey.
The old cliche is true: Money makes the world go round. The U.S. Dollar is the de facto world currency. There are billions and billions of our dollars circulated and transacted around the globe daily that may never touch our shores. Our treasury bonds are the one instrument in the world where people can safely park their money from fry-cooks to financiers to world corporations and governments.
What backstops our currency and our bonds? Our word that we’ll make good on it.
Yep. That’s it.
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