Debt Is Good!

Three notes: three benefits of massive debt–and why it will not choke growth or higher wages, or expanding prosperity.

1. US debt serves a global currency reserve and dampens global shocks and stabilizes markets, including the Hang Seng, Nikkei, Shanghai, DAC, CDC, and Mexico’s Bolsa. It stabilizes currency exchange rates and the banking system as well.

2. Debt is an instrument of future growth. Pension funds (public and private) depend on investments in debt to meet their future obligations; retirees are not paid from future profits, but from long-horizon returns on investments in debt and equity.

3. Debt creates micro-mobility. Whether buying a house or starting a business, families use debt to get ahead.

This concern Peterson has with debt is a Chicken Little cry (Interest rates are equally or more important! As is how the debt is used!) China’s massive One Belt, One Road, trillion dollar+ project is assuming massive debt, but it will repay its costs many times over by connecting 60 Asian/African/European countries in an efficient, low cost, secure infrastructure of modern global market–and expand their 60% share of global GDP as the global middle class expands by a billion people! By 2030.

A myopic view of debt digs a deeper hole than the money owed; more attention should be paid to its dynamics, purposes and context.

Ignoring the Debt Problem


Trump, the Villain

He will go down as a feminist villain: the classic perpetrator, the text book narcissist, a serial grouper with the denials/put downs/and excuses that attempt to diminish his assaults but only damage his victims again as he attacks their worth–measured in his physical fantasies.

He is the lone wolf, difficult to stop. Calculating his chances and opportunity, he is bold to use public and private ventures as cover for his crimes. His was no secret life, but part of his public personna. He quoted tabloid copy to women about his prowess; he was sneaky and silent; he was brutal and overpowering; in every case, he thought he was entitled and he could get away (“they let you”).

Even now, he cannot see his crime or shame. He cannot see the horrificness of his public bashing of his victims in sexual terms; he is a cruel misogynist. His single dimensional thinking has done multi-dimensional damage to women, as he proclaimed their silence and their bleeding (furthering stereotypes), admitted peeking at nude teenagers (lewd and sick), and blocks the reports of friends/family/and co-workers (who refute his lies). He does not understand why his thinking and actions disqualify him for President.

His filth and chronic sadism is not fit for high office. Voters–women and men–will not let him get away.

Thank You, Donald Trump


Hillary: Too Calculating But Just Right

Sometimes too cute and too calculating (too eager to please!), Hillary’s conflict style–her ability to manage differences–changes given the order of the conflict.

In good times, she speaks of dreams. She offers a vision of a better world beyond the miring details that frustrate change and progress, that retard prosperity and security. (Barack consistently offers a vision of our “better angels” as he cites “work to do.”)

When conflict intensifies, she picks a side. She acknowledges when she is wrong. Her biggest fault is her most troubling: making personal decisions while blind to the politics. (The emails!) She sometimes picks wrong! (The war!) But in the management of differences, a person often changes responses as conditions become serious: given the crack epidemic and its massive violence, she was right on the crime bill; now the sentencing system needs reform.

Look beyond her speeches: her policy actions are consistent. She has not/did not “fight” for Wall Street. She has consistently fought for humane assistance/causes/rights: 9/11, refugees, women and children (healthcare, finances, personal choice), marriage, taxes.

What I remember is she came to Rev. Clementa Pinckney’s memorial service in Charleston. Barack delivered the eulogy, but she came on her own, before she announced her run, without Bill; she entered without fanfare and sat on the end of the row, alone.

That action told me more than any speech. Along with 11.5 million lives saved from AIDS.

A WikiLeaks Lesson for Mrs. Clinton