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Its as if running an economy on margins this thin is unsustainable. Maybe we should pay the government a little more to put some extra money aside so we can avo

by tjr225 7y ago

Its as if running an economy on margins this thin is unsustainable. Maybe we should pay the government a little more to put some extra money aside so we can avoid this in the future.

votepaunchy 7y ago
> Maybe we should pay the government a little more to put some extra money aside so we can avoid this in the future. Forget a rainy day fund, we’re $23+ trillion in debt with $100+ trillion in future obligations.
- tjr225 7y ago
  :/
- sailfast 7y ago
  On the plus side, US revenue / GDP figures are also pretty large so that’s not too insane of an obligation. One day we’ll get back level, perhaps. Also on the plus side: at this point money is construct and it doesn’t much matter how much debt you’re in, provided there is not too much money to be inflationary (not gonna happen in a depression) and there isn’t so little that liquidity dries up and there’s a panic to withdraw what’s there. So... queue the magic money machine for a bit until we can get this sorted.
  - mr_toad 7y ago
    > US revenue / GDP figures are also pretty large They just got a lot smaller, and tax revenues with them.
    - asdfasgasdgasdg 7y ago
      For a few years. It also costs the US next to nothing to borrow money at the moment. Yields on 10 and 30 year t notes are on the same order as long term inflation targets.
      - _delirium 7y ago
        The US could probably lock in near-free loans for even longer terms if it wanted to, too. Austria sells 100-year bonds, which are currently yielding a mere 0.5%.
      - lonelappde 7y ago
        Are those numbers pre or post pandemic?
        asdfasgasdgasdg 7y ago
        Post-pandemic. Current yield on the ten year t-note is 0.65%.
amiga_500 7y ago
Forget money. You can run at capacity so long as you don't have to run at capacity. This is global, savings cannot help you. Money is just deferred work, you can't eat it.
- lonelappde 7y ago
  Money paid to government can be used to stockpile durable/nonperishable goods in advance of a crisis. Stuff you can eat
dehrmann 7y ago
Having a robust social safety net so that individuals and companies can be in the business of doing what they do and not planning for pandemics would arguably be a good things. There are a lot of inefficiencies when things aren't done at scale.

by tjr225 7y ago

Its as if running an economy on margins this thin is unsustainable. Maybe we should pay the government a little more to put some extra money aside so we can avoid this in the future.

votepaunchy 7y ago

> Maybe we should pay the government a little more to put some extra money aside so we can avoid this in the future. Forget a rainy day fund, we’re $23+ trillion in debt with $100+ trillion in future obligations.

tjr225 7y ago
:/
sailfast 7y ago
On the plus side, US revenue / GDP figures are also pretty large so that’s not too insane of an obligation. One day we’ll get back level, perhaps. Also on the plus side: at this point money is construct and it doesn’t much matter how much debt you’re in, provided there is not too much money to be inflationary (not gonna happen in a depression) and there isn’t so little that liquidity dries up and there’s a panic to withdraw what’s there. So... queue the magic money machine for a bit until we can get this sorted.
- mr_toad 7y ago
  > US revenue / GDP figures are also pretty large They just got a lot smaller, and tax revenues with them.
  - asdfasgasdgasdg 7y ago
    For a few years. It also costs the US next to nothing to borrow money at the moment. Yields on 10 and 30 year t notes are on the same order as long term inflation targets.
    - _delirium 7y ago
      The US could probably lock in near-free loans for even longer terms if it wanted to, too. Austria sells 100-year bonds, which are currently yielding a mere 0.5%.
    - lonelappde 7y ago
      Are those numbers pre or post pandemic?
      - asdfasgasdgasdg 7y ago
        Post-pandemic. Current yield on the ten year t-note is 0.65%.

amiga_500 7y ago

Forget money. You can run at capacity so long as you don't have to run at capacity. This is global, savings cannot help you. Money is just deferred work, you can't eat it.

lonelappde 7y ago
Money paid to government can be used to stockpile durable/nonperishable goods in advance of a crisis. Stuff you can eat

dehrmann 7y ago

Having a robust social safety net so that individuals and companies can be in the business of doing what they do and not planning for pandemics would arguably be a good things. There are a lot of inefficiencies when things aren't done at scale.