If 60% of French debt is illegitimate, guess how much U.S. state - TopicsExpress

If 60% of French debt is illegitimate, guess how much U.S. state and national debt is also bogus? --Nathan Debt audits show that austerity is politically motivated to favour social elites. Is a new working-class internationalism in the air? ...The report was written by a group of experts in public finances under the coordination of Michel Husson, one of Frances finest critical economists. Its conclusion is straightforward: 60% of French public debt is illegitimate. ...If it were shown that public debts were somehow illegitimate, that citizens had a right to demand a moratorium – and even the cancellation of part of these debts – the political implications would be huge. It is hard to think of an event that would transform social life as profoundly and rapidly as the emancipation of societies from the constraints of debt. And yet this is precisely what the French report aims to do. theguardian/commentisfree/2014/jun/09/french-public-debt-audit-illegitimate-working-class-internationalim

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