3 ms·

well the game will continue until you cant service your debt payments anymore. Then you default. Crisis, pain, recession. Rinse then repeat. https://en.wikiped

• sp332 8y ago
  There's an alternative to defaulting on debt and that is to pay it off. Is there even a case to be made that we are in or near a crisis?
  • jsoc815 8y ago
    > There's an alternative to defaulting on debt and that is to pay it off. I think it's in one of my CFA books -- definitely in other materials I have or have viewed--, but I think the point of the game is to trade as much intrinsically worthless fiat for extrinsically valuable stuff as possible. If and/or when one exhausts one's ability to trade the fiat, then one is supposed to walk away a winner, so to speak. This sort of came yesterday in a C-Span program, when a caller essentially asked what backs the USD.[1] [1] https://www.c-span.org/video/?448590-3/washington-journal-chris-condon-discusses-federal-reserve-us-economy&start=1699 https://www.c-span.org/video/?448590-3/washington-journal-ch...