Tag: national debt
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What Ireland’s crash tells us about bankers views on Scottish Independence
The next week is going to be fascinating. I have no idea how Scotland will vote, for or against independence. I have no idea how I would vote were I there. Economically, there is probably a somewhat stronger argument for NO than YES, if you believe the politicians promises. But national self determination is not…
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An Interest only Economy
Back in my time as an undergraduate one of the things I learned about was “sinking funds”. These were repayment schedules for the national debt, structured in the same way as a mortgage, such that not just the debt interest but the debt principle was repaid. The debt was extenguished. Sometime in the 1980s we…