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If you default on debt why does the money supply contract? If I borrow $100 from the central bank, then spend it into the economy and then tell the central bank I default, I can't pay the money back, than that is $100 extra in the system that will never be taken out. Correct? If I had paid the money...
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Ever since the begginning of the latest school year I have really tryed to start getting into politics and what not. Economics is the hardest concept for me to understand yet. Last year I took a Civics and Economics class which didn't really teach me a thing. I've been reading this book "End...