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>We keep borrowing, you say? Well we are almost $20tril in debt right now and current unfunded federal liabilities are somewhat north of $200tril. And yet infl
by crdoconnor 11y ago
>We keep borrowing, you say? Well we are almost $20tril in debt right now and current unfunded federal liabilities are somewhat north of $200tril.
And yet inflation (the real measure of "borrowing too much") is basically below zero.
- cubano 11y agoIt won't last forever, that's for sure. The only reason we haven't seen real inflation yet is because the dollar is the reserve currency of the world and that other countries are in even worse shape, thus we have natural inflation-resistant situation where we get to finance our debt on the backs of the world.
- crdoconnor 11y agoWhich would be very convincing if Japan: A) weren't the reserve currency of the world. B) didn't have 20 or so years of no inflation. C) didn't have legions of economists saying that massive inflation was just around the corner since ~1993 - exactly like you are now. D) didn't use a different, equally unconvincing excuse for why they too are special.