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Right, obviously when I say money, I don't mean "paper", I mean the equivalent value that we represent by using money. We're generating a lot less value today,
by luckylion 7y ago
Right, obviously when I say money, I don't mean "paper", I mean the equivalent value that we represent by using money. We're generating a lot less value today, while spending as if we didn't. Suggestions for the state to pay people their usual salary while locked down for the next months/years do require some idea of how to pay for it (again: with value, not with paper). Magic aside, how will that happen?
- JackFr 7y agoExactly. The estimated $25 billion dollars a day the lockdown is costing the economy is real economic output not a balance in a ledger.