I gave it the old college try but unfortunately it does right over mine and my boyfriend's head...and we're both teachers. Sorry but it's not for the average reader.

David Kauders whose Bear Markets I reviewed in 2017, is back with a new book that shows that all schemes that borrow from the future are thwarted by three related concepts: the true cost of debt to society, central banking economic cycle, and the financial system limit. The Financial System Limit: Radical Thoughts About Money kicks off with the notion that one-fifth of all economic output is spent on paying interest. Various ideas have circulated for how to escape the debt trap: fiscal policy, prevent banks creating credit, helicopter money, canceling both debt and an equal amount of credit, paying off the world debts by liquidating assets, taxing wealth to pay down debt, debt to equity conversion, government debt can only be repaid slowly, if at all., expanding Special Drawing Rights, abandoning economic stimulus.

None of the ideas, neither classic Keynes, Thatcherism, Piketty, the FED or ECB money press can work. The recent COVID-19 pandemic panic reactions add to the misery. The book pleas to measure interest cost on total debt in relation to economic output. A deep recession and consequential financial upset were inevitable in a world that could not resolve the conflict between stimulus and austerity, a world that remained addicted to debt, a world that refused to admit the limit to the growth of debt caused by the cost of servicing it. That's what David Kauders wants to highlight in this rather short read.