This month we introduce another IDEA effective rate: This time, the IDEA Effective Demand Function. It gets a plus. The contribution of debt to effective demand is now positive in every respect, save for a tiny negative contribution from mortgage debt -- but since this is accelerating, it may be positive soon, as well.
Effective Demand is composed of the sum of Income (GDP) plus the Change in Debt, multiplied by the velocity of money.
See the complete treatment at IDEA Effective Demand function.