Letter: Canada’s economy: Follow the money
To the editor:
Having read Ms. Varga’s letter to the editor on July 2 (Don’t Be Alarmed Over B.C.’s Debt Clock), I find it interesting that some individuals think that there is a “good debt” and a “bad deb.” To me, this is like saying that there is “good” cancer and there is “bad” cancer.
Unfortunately, in both situations, if you only treat the symptoms and not the root cause the outcome is most likely to be bad.
In the case of a cancer, or other life threatening disease, it means the end of a life.
In the case of debt, it means the end of the economy and a lifestyle to which we have all grown accustomed to, especially for future generations, your kids and mine.
As to the latter, debt, there are many problematic symptoms out there to which we tend to direct almost all of our focus, and pay virtually no attention at all to its root cause, which is not that complex. Time and space prevent me from going into much detail here but, suffice to say, if you really want to know more about the root cause of debt, whether it is public debt (government), or private debt (individual and commercial), spend some time on finding the answer to the following question: “Who creates ‘money,’ and how is it created?”