karashta

karashta , 28 days ago

This.

More people need to understand that the debt of a sovereign nation isn't analogous to that of a household.

Public sector debt is private sector surplus.

karashta , 28 days ago

The other person who responded to me made a very all written post but it gets a core assumption completely wrong.

They seemed to think that tax revenue in some way has to happen for spending to happen. That's why they think GDP has anything to do with our ability to service debt. But the federal government creates money ex nihilo.

Money has to be created before it can be destroyed through taxation. Spending and back stopping creation of money by private banks through the reserve system comes first. You can't destroy something you haven't created.

It's sad, really. Economists and politicians have blinded everyone with what I think of as "the money delusion".

It doesn't matter if the money can be "gathered up" to be spent on things we need. We do not rely on the money of the wealthy. What matters is actual, real resources and services we can provide.

The national "debt" is a misnomer. That's the amount of dollars left in circulation that have not been destroyed through taxation, as well as the "dollars" that pay interest which we call bonds.

I'm glad to see at least a handful of other people who understand. Fight the good fight, fellow human.

karashta , 28 days ago

Thank you for typing up the reply I hadn't gotten to yet.

You the real MVP

karashta , 1 month ago

Acts 4:34-36

"For there was not a needy person among them, for all who were owners of land or houses would sell them and bring the proceeds of the sales and lay them at the apostles’ feet, and they would be distributed to each as any had need."

They mean this Christianity, right???