karashta
Except that’s a sham way of framing things that most people use.
The US is monetarily sovereign and can always issue enough currency to meet any demands upon it.
Uncle Sam doesn’t go around collecting dollars like a beggar to apply to things. It creates money directly through spending, or backstops the creation of demand deposits by private banks via the reserve system. Money has to be created before it can be destroyed through taxation.
The issue isn’t, “Where will we get the money?”
The REAL issue is, “Will we have the infrastructure to care for our elderly?”
Warren Mosler goes over this in one of his better short pieces of literature.
Because the national “debt” is the number of dollars that haven’t been destroyed through taxation.
It’s not real currency, it’s a token.
I can’t use it to pay my taxes to the US federal government and it must be traded in for actual currency to do so.
Just like a token at an arcade.
They are also vehicles of wild speculation… And unlike stocks (where I gain partial ownership of a company) and bonds (where I gain a claim on their monetary inflows and primacy if the venture crumbles), crypto gives me… What exactly?
I don’t get to be an owner or a creditor. I become… Holder of a mining incentive?
I’m sorry it’s not what a lot of people seem to think it is.
Bet that old timer loves his Medicare and social security, though. Lmfao
So you’re cutting the butter with the spoon, too, I assume? Do you not refrigerate your butter?
Not being critical. Legit curious
Silver
Maybe they should pull their houses out of this predicament by their boot straps
The needs of the many outweigh the needs of the few.
It’s almost like making the line go up at all costs at an ever increasing rate isn’t the best way to run a company