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The debt for dummies

al.wragg, 04/10/2012

The first part of this text presents some basic concepts like the distinction between deficit and debt, for those who are not familiar with them, and a personal idea of some of the reasons that led us to the current situation.

The second part has a demonstration, based on a simple mathematical model presented in the annex, of how the solutions proposed by those in power will never be able to solve the debt problem in our lifetime.

I therefore argue that it is mathematical evidence that austerity, growth and good behaviour towards "the markets" do not solve the debt problem, but rather aggravate it even more.

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