Serious question: what is really happening with debt? US and China seem to manipulate money in inchoherent ways.
How have we avoided a crash? Have they created a whole new game outside of typical macroeconomics?
@PeterSchiff
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I've been asking the same question for a decade. Nobody really knows. My theory is we've practically abolished scarcity at least for items lowest/most urgent in the hierarchy of needs.
End of conversation
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The government will have to raise top marginal rates. Not such a horrible thing.
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This is psychopathy. There is no nation as a whole, it’s an abstraction. Thinking this way justifies starvation-level poverty alongside obscene wealth because, “Hey dude, chill, it all evens out!” Who would propose such a concept?
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This guy won a Nobel?
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You win Nobel's for generating outside the box ideas, most of which, are wrong.
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Geoffrey, have you looked into
#bitcoin
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He went to the "I can't believe this is an actual school of Economics", school of Economics.
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This guy also wrote in 2001 that a government induced housing bubble would be a good idea to counteract a mild recession.
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