YSK this because the high amount of public debt, which has been getting a lot of attention in the US, is actually by design.

In our double-entry bookkeeping system, money is created via bank lending and government spending, adding to the economy, and is destroyed via loan repayments and taxes, subtracting from the economy.

Central banks create a wealth pump mechanism into assets through money printing, which erodes consumer purchasing power, driven by deficit spending, which creates money for the private sector.

Profits are privatized; losses are socialized.

• https://link.springer.com/article/10.1007/s11625-023-01304-5
• https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy

What is this slop why are there three step 2s??

The fuck is this sloppy garbage?

there's three steps for each type of creation

Well its very confusing. Like lloyds doesnt even have anything going to it

I think the arrows are going between portions of the pyramid instead of to the bubbles they are pointing at

Wtf I cannot make sense of this. No offense, maybe it is a skill issue but if you dont know enough to explain a situation you ahouldn't.