Big picture, the core of Capitalism is that public debt backs private wealth.

The Federal deficit started with the New Deal, so not only was Roosevelt putting unemployed labor back to work, but unemployed capital as well.

Volcker didn’t cure stagflation with higher rates, because that squeezed resources to those willing to borrow and grow the economy. It was Reaganomics that siphoned up the excess money already in the system and spent it in ways which the private sector never would, but did help to “prime the pump.”

So we have these endless, strategically inept wars and no one is held accountable, because their ultimate function is to spend money, in order that more can be borrowed.

The problem is that money is largely a contract, with one side an asset and the other a debt, so to create the asset, similar amounts of debt have to be generated and the government is debtor of last resort.

Everything else is just resources to be plundered, or waste to be thrown out.