Phantom Wealth, Phantom Debt, and Viral Pandemic

A great deal of angst has emerged over the huge amount of money, initially two trillion dollars, being conjured “out of thin air” to counter the economic collapse occurring under to stay-at-home orders and business closures as the COVID-19 pandemic accelerated. The Two trillion dollars quickly proved to be wildly insufficient to stimulate the economy … More Phantom Wealth, Phantom Debt, and Viral Pandemic

Borrowing Nothing from Nowhere: Phantom Money and Phantom Debt

Borrowing money is a tricky thing to talk about, even trickier than talking about money itself. We all seem to have a love-hate relationship with the stuff. Well, maybe ‘stuff’ is not the right word. People disagree about what money actually is. Some, who I’ll call “money realists,” believe that the essence of money is … More Borrowing Nothing from Nowhere: Phantom Money and Phantom Debt