Where fiat debt capital issuance is directed by a government in a manner that advances the development of improved wealth and security of its citizens then it can be a good thing.
Where fiat debt capital issuance is largely captured by private bankers who ignore the requirement for fiat capital to be directed toward such purposes then you have a state of crony capitalism that is inequitable and vulnerable to competition from a nation exercising more principled application of fiat capital leverage...
This is in large part how China has won the trade war and crippled the US military.
Parasitic bankers have captured western governments under the neoliberal ideology and the result is the decline and probable fall of western civilisation.
Where fiat debt capital issuance is directed by a government in a manner that advances the development of improved wealth and security of its citizens then it can be a good thing.
Where fiat debt capital issuance is largely captured by private bankers who ignore the requirement for fiat capital to be directed toward such purposes then you have a state of crony capitalism that is inequitable and vulnerable to competition from a nation exercising more principled application of fiat capital leverage...
This is in large part how China has won the trade war and crippled the US military.
Parasitic bankers have captured western governments under the neoliberal ideology and the result is the decline and probable fall of western civilisation.