Saturday a long daytrip northeast from Trout Lake by Forest Road 82 to southeast Mt Adams. Road takes you on a portion of the Yakama Nation once allocated by survey error to the Gifford Pinchot National Forest. Most Mt Adams land within the Indian reservation is closed to the public. But this lovely remote area remains open for a small fee ( Read more... )

To take a different tack to show how the tally stick examples illustrate macroeconomic models called Sectoral Balances. This math underlies the endless prior posts about tally sticks.

The two most useful forms of the sectoral balance equations for this blog series were:

Federal deficit spending - Net imports = Household savings - Private ( Read more... )

These quotes were cited in the earlier posts ( Read more... )

This wraps it up. Enough about deficits ( Read more... )

The queen used fiat money deficit spending to draw resources and labor toward addressing common social problems.

So why not just issue infinite tally sticks and ... blah blah blah? Inflation. A sane queen would not manufacture limitless tally sticks and deficit spend with abandon. A queen who is not insane realizes she cannot mobilize production ( Read more... )

No economic news report is complete without a lingering look at the terrifying national debt clock rocketing toward infinity [12]. What is wrong with the picture? There are about 300 million people in the US so better to divide the debt clock number by 300 million to show average savings per person. The clock will also slow down by a factor of 300 ( Read more... )

Government pays interest on the national debt. Won’t the interest payment grow out of control as the national debt grows, swamping the federal budget? This is an interesting question. But I am flawed - I love accounting ( Read more... )

Total deficits minus surpluses are the national debt which is the base money supply and private savings ( Read more... )

Villagers with savings could stash tally sticks in their mattress, or deposit them in a bank in a checking account, or deposit them in the central bank of tenth century Hibernia in a savings account where pieces of the national debt became their savings ( Read more... )

Banks could come in here, since we have the concept of private savings which is the national debt ( Read more... )