Jason Rines (iThinkBig)

We Have a Debt to Discharge

Good article and the main salient point is debt to GDP. With dwindling cash, consumers and businesses can't pay debt. When WWII started and the US cranked up GDP towards defense spending to 75%, it created millions of jobs. Consumers and businesses displaced a bit for the war and these jobs, but then could afford to save and invest, paying off debts. Those jobs stuck, because WWII created innovation such as microwave, radar, computer, jet power etc etc. etc. Cranking up our GDP for energy independence is the solution to this catastrophe. Other critical things will happen on it's own as history has shown, such as voter revolutions and managment getting fired and replaced, bankruptcies and writing off some debt, etc. But that is a four year process give or take according to history and pain is the catalyst unfortunately for those processes to occur.