FREE MONEY
It is the way things are called and described that count: the word debts means some future pay back time, but this word is a falsification of reality, the word should be “free money from excess capacity”, not debts.
High Debts and High Unemployment reflects a desperate attempt to try to deny that the economic system generates huge free money and free wealth and has huge excess capacity such that the debts can be made anyways, the fact that free salaries are being given out anyways, actually reflects the fact that what is called “debts” is actually the “excess wealth”, “free money” the Technological Economy generates no matter how hard the Standard Economic Model ideology tries to call the free money “debts” instead of “excess capacity”.
If the debts were really debts and the money wasn’t really free wealth, then you would have loads of jobs available and very low unemployment, since the free money would have to come from somewhere, from some “real work” (as the fairy tale Standard Economic Model tries to brainwash everyone with the simple linearity of “more work” is “more wealth” while this linearity is no longer operating anymore and hasn’t been operating for decades). But this is exactly not the case, this situation of the western world full of debts and with few jobs exactly reflects the fact that jobs are no longer necessary to generate wealth, to generate “money”. Otherwise it wouldn’t be sustainable at all, or sustainable for only a few months but this ball game has been going on for decades.
Granted some of that money is generated through cheap “oil” and cheap third world “labor”, but it could have never reached such high levels of trillions of dollars in the USA, EU and JAPAN if the fundamental economic structure weren’t generating free wealth and excess capacity from the outset anyways. Case in point, I read recently that sick man Italy has 180 billion dollars of “retirement costs”, which translates into the equivalent of 18 million “free salaries” of 10,000 dollars a year; it is as if almost 80 % of the country is living off free salaries anyways, no matter what. And this has been going on for years, it is not a recent situation. Now, how is that possible if the system isn’t generating free wealth anyways, automatically ? Same for the USA (and maybe its Defense budget and similar), JAPAN with its load of 200 % debt to gdp ratio and so on.
The entire debt game and budgets game (both in the USA and EU) and similar is a desperate attempt to make believe that you need jobs to balance out the free money, that you need work to compensate the free money given out anyways: nothing further from the truth, there is no longer any relationship between work and money in a sense, jobs aren’t needed to create wealth and money. In fact the money and wealth is mostly a reflection of relationships between people, not “products that are being made”, not “jobs that are performing a function” (especially in the services economy), no it is all a status game, an optional game of power struggles and winning and losing some poker game proxies mostly.