You can only delay the economic laws only so long, before they snap back like a sling shot.
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There was a time when I would agree with you. Not anymore. We have kicked this can down the road (U.S debt) about 30 years longer than I would have thought possible.
That just means past generations built up an amazing amount of reserve. Economic laws can only be toyed with for so long. It will be very bad in the long run.
Indescribably bad, imo.
I’ve decided we’re the least ugly in the ugly dog contest of major work currencies.
Which doesn’t mean I don’t think it won’t ultimately end poorly. It’s just taking a lot longer than I expected.
I remember when it was scandalous that GWB doubled the debt from 4 trillion to 8 trillion.
I had a conversation the other day with someone who told me seriously that we should just 'print more money'. I explained why that wasn't a good idea, and how it would devalue our currency and the value of people's savings. This was a consequence they hadn't thought about.
Our government gets away with a lot of what it does because of the lack of economic literacy of the public.