As an analysis of the trajectory of the U.S. economy over the last several decades, I agree with everything written there. The problem began with the migration of real capital — plants and equipment — and continued with a turn to finance as the driver of the economy: making money from money. The point of the service-based economy is to provide just enough total consumption (and tax revenue) to keep the economy from collapsing. That all money in the economy comes into existence via debt is the telling detail of the existing economy.

I have developed a solution: “For Crying Out Loud, ACCEPT That A SOLUTION Actually EXISTS” (a “3 min read” — including options for further reading — here in Medium). [Knowing how long I have been touting this paradigm and how much good it could already be doing, the current situation has put my frustration into hyper-drive.] In 25 words or less, the solution is to supply the economy with money via an income paid to eligible citizens, not by generating debt.