Reply #1: Although I Agree with Many Statements and the Analysis That Rickards Makes in the Video, [View All]

he blames Keynesian economics as the culprit. The real culprit is that government has been borrowing money for the past 30 years and giving it to the wealthy in the form of tax cuts. In essence, we've had highly unproductive Keynesian economic policies instead of productive economic Keynesian policy.

For example, instead of spending trillions on the very wealthy, we spent it on aggressive public education so that illiteracy was wiped out. Then we'd have a much more employable and productive citizenry.

Additionally, if we didn't offshore our manufacturing and IT jobs base, we'd have the money and the revenue to finance our obligations without using so much debt, which is what the Germans do. They still make automobiles and electronics in Germany that the world wants. We have a bunch of low end service jobs that highly depend on consumer spending.