• Debt is an agreement, not money • Money is a device with certain physical characteristics that is used to cancel debt, and other agreements, with finality • Some types of debt, such as bank deposits, are used as money, so they are a subcategory, and very weak form, of moneyhttps://twitter.com/paulkrugman/status/1180457374705999872 …
Also observe the collectivist "we...ourselves" neglecting and defacing any mention of individuals, and especially neglecting and defacing the legal and moral distinctions between debtor and creditor.
![Juan⚡️Galt- [₿e Your Own Vault]](https://pbs.twimg.com/profile_images/1137054819976278016/GYW35arI_normal.png)
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For someone who depends so much on credit, he's preposterously glib about the moral and legal frameworks that make credit feasible.
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Did you observe all the capital letters? They trump your silly lower case letters
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lol...yeah, capital letters command much more authority
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Only in hex
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hex commands religious level sanctity!
End of conversation
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In hindsight, Baby Boomers and Gen Xers were lucky to start at a time when overall debt burden was significantly less. They abused the system like by taking on tremendous debt and making it look normal. Millenials and Post-millenials do not have that luxary :(
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But, if debt is money, then all people can issue money. If all the people can issue money, why does the state want the monopoly of the monetary issue? A Keynesian in trouble.
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Why is this guy still employed after he called the internet a "fad"? Has Krugman ever been right about ANYTHING?
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