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> "your Lord is responsible for everything around you." See how fallacious that sounds...?" Of course it sounds fallacious--you've constructed a straw man out
by pembrook 6y ago
> "your Lord is responsible for everything around you." See how fallacious that sounds...?"
Of course it sounds fallacious--you've constructed a straw man out of my original argument.
There's nothing circular about the concept of debt. It's a fundamental aspect of how our economy works. The way debt is raised is through markets. Again, this is not a controversial or political statement.
Of course workers built the roads. And they were paid to build those roads by debt raised via bond markets. Governments and organizations use debt to bring the future into the present and amortize large investments over long periods of time. The liquidity and demand for this debt in the global markets allows them to do this.
No marketplace for debt = no way to reliably execute big infrastructure projects for all but the richest of countries. The market (the demand for debt) is literally the enabler.
Nothing I've said here is a mischaracterization of reality.
> It's a pretty shitty indicator, I'd say.
Again, I'm not advocating that short term financial market gyrations have any explanatory power for the future. I'm simply explaining why journalists use it: because it's easy.