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Governments have been running deficits for 5000 years, it's how currency is established.
by damptowel 10y ago
Governments have been running deficits for 5000 years, it's how currency is established.
- toomuchtodo 10y agoUS citizens are binging on credit to make up for stagnant wages. That's not a theory, that's a fact. First it was housing, now its credit card and auto loan debt. Fun fact: Subprime auto loan bonds are in a slow motion trainwreck: http://money.cnn.com/2016/03/15/investing/subprime-unpaid-auto-loans-oil-crash/ http://money.cnn.com/2016/03/15/investing/subprime-unpaid-au... http://www.bloomberg.com/news/articles/2016-03-21/this-is-what-s-going-on-beneath-the-subprime-auto-loan-turmoil http://www.bloomberg.com/news/articles/2016-03-21/this-is-wh...
- mac01021 10y agoYou're asserting that, if wages were not stagnant, people would not binge on credit? Maybe that's true, but I doubt it's noncontroversial enough to be declared "fact rather than theory".