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For the last 86 years, the Fed and Treasury have managed to avoid another Great Depression by continually expanding the money supply, though we had a big scare in 2008. Since that time, the money supply (debt) has been expanded exponentially (see the chart of M2 above, a common measure of the money supply currently approaching $24T). The larger the money supply (debt), the more debt needs to be continually created to support it. This is the nature of any fiat money system.

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2 min read BaroqueMusic BaroqueArt Bach ToccataAndFugue Caravaggio BaroqueMusic BaroqueArt Bach ToccataAndFugue Caravaggio Subscribe to the Daybreak Devotions for Women Be inspired by God's Word every day! Delivered to your inbox. Editor's Picks There are few places that capture the spirit of summer quite like camp—a place where lifelong friendships are formed, confidence is built, and unforgettable memories are made around campfires, cabins, and outdoor adventures.

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