The rats and their cocaine pellets

Charles Hugh Smith, on a roll:

If the nation had to pay a historically average rate of interest on its debts, the economy would quickly implode like a supernova star.
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The "borrow more, we need more demand!" thumpings of "liberal" economists like Krugman and Reich are completely blind to the fact that the borrowing they demand is precisely what has sold the nation down the river and handed control to the banks and Wall Street.
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Hey, what's a trillion dollars at zero interest? You and I could make the interest-only payments each month, because they're zero.
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This is the basis of the current stock, bond and commodities booms in the global economy: push trillions of dollars in "free money" to financial players, and guess what, that hot money flows out seeking a fat return.
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The Keynesians and other economists have no ideas for confronting the reality of a post-consumerist debt economy and society. Like frenzied rats in a cage, they only have one lever to push to release the cocaine-laced pellets, and so they've been pushing it for 40 years.

If bankers are the main employers of economists, economists will likely not renounce a thoroughly financialized economy.