John Brodix Merryman Jr.
1 min readApr 1, 2020

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No. What we need is to understand that a market economy is not synonymous with capitalism.

We are goal oriented creatures, in a cyclical reality, so while markets need money to circulate, we see it as the signal to extract from the noise of society and the economy. Requiring ever more to be added and ever more metastatic ways to store what has been extracted.

It is a contract, not a commodity. The asset is backed by a debt, so to store the asset, similar amounts of debt have to be generated. Which requires limiting the flow of money through significant parts of the economy, in order that sufficient debt is generated to run the economy and back the stored wealth.

As well as that government has been manipulated into being debtor of last resort. The capital markets could not function without government siphoning up trillions in surplus money. Where would it go otherwise? So the secret sauce of capitalism is that public debt backs private wealth.

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John Brodix Merryman Jr.
John Brodix Merryman Jr.

Written by John Brodix Merryman Jr.

Having an affair with life. It's complicated.

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