I'm well aware of how this is supposed to work in theory. But the fact remains we already have a glut of high-IQ natives.
I keep wondering when the music is going to stop for all this, and when a focus on real production returns.
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So many unsustainable businesses out there right now, seems like we've been set up for another crash for quite a while now
Thanks. Twitter will use this to make your timeline better. UndoUndo
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When the Chinese decide they'd rather keep all those nice Barbies, Nikes & iPhones instead of trading them for US Bonds & Hollywood movies.
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America WILL eventually walk away from its government debt... Either by currency devaluation, inflation or outright repudiation.
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Yeah, but muh Modern Monetary Theory, bro. Sovereign debt isn't even real (yes, it really asserts this).
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tbf from what I've read about MMT it sounds basically correct
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Why do you think it's correct?
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Fiat derives value from government force, and inflation or deflation is a political decision. Looking it up, I see:pic.twitter.com/2593y6fFkS
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We know the government can get rid of the debt through printing, but the cost is inflation. I wouldn't say the debt isn't real, just that
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unlimited creation or destruction of fiat currency is within the government's power. (not that the results will be desirable)
End of conversation
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