I'm not a fan of government debt, but every kid born in the US is also endowed with a quarter millennium endowment of roads, railroads, canals, telecom, dams, cleared agricultural land ... and a 6,000 year inheritance of technology. Balance sheets have two columns.https://twitter.com/robinhanson/status/1321073611764125698 …
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Replying to @MorlockP
I'm no economist, so I can't articulate this, but I am increasingly skeptical of the notion of "money borrowed from ourselves." I'm not saying the debt is imaginary, but I think there's something flawed in the accounting.
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Replying to @AndToddsaid @MorlockP
Basically as long as we’re world’s reserve currency, yeah, you’re kind of right.
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Replying to @ElamBend @AndToddsaid
yeah, "reserve currency" means a ton
2:15 PM - 27 Oct 2020
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