Not that this JPY stuff was a surprise. Like many govs, Japan financed today's social programs by literally *selling the unborn*.
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Replying to @CTZN5
That's an inflammatory phrasing, but is accurate. Gov't obtains LOCs from lenders based on future projected taxes, using projected births.
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Replying to @CTZN5
This happens decades out. In Japan, the people didn't cooperate & pump out enough babies, so the money supply gets diluted to pay the debts.
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Replying to @CTZN5
All govs on earth that maintain authority to directly tax income, do this. It's just a good time to remember that, as QE buries JPY in shit.
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Replying to @paulbaumgart
@paulbaumgart The net economic cost of that would far exceed the gains from tax revenue however. B/c this is purely econ-driven.1 reply 1 retweet 1 like
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