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MorlockP's profile
ⓘ Dogs don't have thumbs
ⓘ Dogs don't have thumbs
ⓘ Dogs don't have thumbs
@MorlockP

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ⓘ Dogs don't have thumbs

@MorlockP

Two-time Prometheus award-winning hard science fiction author. https://www.amazon.com/dp/B005JPPMS6  Learn how to homestead https://www.amazon.com/dp/B093BC3K1T 

Aristillus Crater, Luna
amazon.com/dp/B005JPPMS6
Joined June 2012

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    6. Marc “Except You, You're All Right” Whipple‏ @WhippleMarc 10 Apr 2020
      Replying to @sonyasupposedly

      Many years ago, I did beta reading/copy editing for a book about this topic. (I mean like fifteen years ago.) The author laid out exactly how this happened why it happened, and its inevitable end. Specifically, that if you need constant growth to roll over your debt eventually...

      1 reply 0 retweets 3 likes
    7. Marc “Except You, You're All Right” Whipple‏ @WhippleMarc 10 Apr 2020
      Replying to @WhippleMarc @sonyasupposedly

      ... you run out of growth. People who say that national debts aren't like household debts are right: nation-states can print money. Under MMT, "money" isn't even a real thing so much as a way for the government to direct how resources added by growth are to be allocated. But...

      1 reply 0 retweets 2 likes
    8. Marc “Except You, You're All Right” Whipple‏ @WhippleMarc 10 Apr 2020
      Replying to @WhippleMarc @sonyasupposedly

      ...what they can't print is economic growth. It used to be that if your population grew, your economy grew. Then it used to be if your population got more educated, your economy grew. But all that growth is now spoken for, baked into the existing allocation system.

      1 reply 0 retweets 2 likes
    9. Marc “Except You, You're All Right” Whipple‏ @WhippleMarc 10 Apr 2020
      Replying to @WhippleMarc @sonyasupposedly

      We need not just growth but *more* growth, or we won't be able to allocate resources as we do now, because the demand growth for the resources is outpacing the production growth of the economy.

      1 reply 0 retweets 2 likes
    10. Marc “Except You, You're All Right” Whipple‏ @WhippleMarc 10 Apr 2020
      Replying to @WhippleMarc @sonyasupposedly

      He referred to this as a "debtberg," and I think it was the first time I ever saw the word. The metaphor is that eventually icebergs roll over, because they melt faster under water than in air. It's a catastrophic event, especially if you're standing on the iceberg.

      2 replies 0 retweets 3 likes
      ⓘ Dogs don't have thumbs‏ @MorlockP 10 Apr 2020
      Replying to @WhippleMarc @sonyasupposedly

      yeah, in the end, the US will have to print the debt away, which results in massive inflation, world chaos, everyone getting !@#-ed, collapse of trust in US dollar, etc Could happen in 3 years. Could hold off for 30+. I dunno.

      12:53 PM - 10 Apr 2020
      • 1 Like
      • 🎀 sonya supposedly 🤖
      0 replies 0 retweets 1 like

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