What is something in this reading which you did not understand? Describe what you understand about it and explain where your confusion lies. Alternatively, did you have any Ah-Hah moments while reading this chapter? Something that really ‘clicked’ for you? 2. Kelton refers to U.S. Treasury Bonds as ‘yellow dollars’. If Treasuries are just another kind of dollar why do we have them and why does a country like China want them? 3. Why was it possible for Greece to have a debt crisis and why is that not possible for a country like the United States? 4. Kelton shows that a recession has followed every instance that our government ran fiscal surpluses (taxed more than it spent). Why might we expect that to be the case? What is causing these recessions?
