The National Deb(i)t
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For centuries, civilization believed that in our solar system the sun revolved around the earth, that it was pulled by earth’s gravity, and that our universe was limited to within The Firmament. This was proved wrong in modern times. Today it is believed that in our monetary system the US federal government revolves around us, that it is pulled or financed by taxes and by borrowing, and that federal government spending is limited to within a Debt Ceiling. This is proved wrong in Modern Monetary Theory. Like many things, when it comes to finance, just as important as your diversity in investments, so should be your diversity in thought. This book gives you a different way to think about our National Debt and US Treasury bonds, or more specifically, a way you should not think about them.
Edward J. Delzio was born and raised in northern New Jersey. After graduating from Wilkes College in 1983, he began entry-level work on Wall Street for RMJ Securities, a US Treasury bond brokerage firm. His career as a Treasury bond broker at RMJ, Cantor Fitzgerald, and eSpeed lasted just under 30 years, split between branch office locations in New York City and Tokyo. He is presently an Investment Advisor Representative with Primerica Advisors in Westchester County in the state of New York, where he lives with his wife, Yukiko.