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Money manager suggests the US government print more money for him to manage. The US borrowed $20 trillion from its children and grandchildren, what have you do

Money manager suggests the US government print more money for him to manage. The US borrowed $20 trillion from its children and grandchildren, what have you done with it? How about paying that off first?

ddingus 6y ago
Best way to do that is a strong investment in people, infrastructure, research, development, and an improved social policy. Yes, that means making more money, but that is also how a sovereign funds labor to pay down debts without putting it's people through generational austerity, if that is even an option, and for us it really isn't one. Literally, there is nothing stopping the USA from laboring itself right out of debt, except the politics. When we do these things, general appetite for risk will improve, there will be a lot more money in the hands of people who spend it, and the returns, both in terms of how much the nation is worth as well as from the result of the projects will pay down past financial folly nicely. Tons of opportunity will be a part of an effort like this too. Opportunity for everyone from self employed mom n pop through to the major firms. Think Interstate Highway Project, and all that brought to the table. We need that kind of thing right now. Covid has only amplified that need. Difficult as it seems, we aren't going to cut our way out of that debt, and it is very unlikely we could secure resources and treasure for it either. (Military action, and the costs and risks associated with all that are unwise, in my view) We have a ton of labor potential out there, and that is how new wealth is created, so... let us get to creating! Sadly, reluctance on stuff like this appears to be bipartisan. Sure wish it wasn't.
- boomboomsubban 6y ago
  >Best way to do that is a strong investment in people, infrastructure, research, development, and an improved social policy. I'm skeptical whether creating funds that are forced to invest in the stock market would count as investment in those areas. Those sound like giving more money to the billionaire hedge fund mamagers.
  - ddingus 6y ago
    I am too. If it were me, every single one of those things would be Federal, with appropriate State involvement where necessary. Basically, the people acting directly through government to improve their common lot. Again, think Interstate Highway Project. Private investment can happen along side and should. But the core things are public works so that the primary returns are either going back to the treasury to pay down debt, or going to people to reduce their cost and risk exposure or employ them at meaningful compensation levels. Directly employ people for infrastructure too. The usual people do not need more money. They will benefit from public works, will have to compete and or can invest alongside, same as they did last time. We all benefit.
    - boomboomsubban 6y ago
      Replying to a post criticizing Ackman's plan made it seem like you were defending that plan, but your plan is completely different. I misunderstood what point you were making.
      - ddingus 6y ago
        All good. Was just kind of flowing in the moment. Didn't mean to be confusing. Cheers!

ddingus 6y ago

Best way to do that is a strong investment in people, infrastructure, research, development, and an improved social policy. Yes, that means making more money, but that is also how a sovereign funds labor to pay down debts without putting it's people through generational austerity, if that is even an option, and for us it really isn't one. Literally, there is nothing stopping the USA from laboring itself right out of debt, except the politics. When we do these things, general appetite for risk will improve, there will be a lot more money in the hands of people who spend it, and the returns, both in terms of how much the nation is worth as well as from the result of the projects will pay down past financial folly nicely. Tons of opportunity will be a part of an effort like this too. Opportunity for everyone from self employed mom n pop through to the major firms. Think Interstate Highway Project, and all that brought to the table. We need that kind of thing right now. Covid has only amplified that need. Difficult as it seems, we aren't going to cut our way out of that debt, and it is very unlikely we could secure resources and treasure for it either. (Military action, and the costs and risks associated with all that are unwise, in my view) We have a ton of labor potential out there, and that is how new wealth is created, so... let us get to creating! Sadly, reluctance on stuff like this appears to be bipartisan. Sure wish it wasn't.

boomboomsubban 6y ago
>Best way to do that is a strong investment in people, infrastructure, research, development, and an improved social policy. I'm skeptical whether creating funds that are forced to invest in the stock market would count as investment in those areas. Those sound like giving more money to the billionaire hedge fund mamagers.
- ddingus 6y ago
  I am too. If it were me, every single one of those things would be Federal, with appropriate State involvement where necessary. Basically, the people acting directly through government to improve their common lot. Again, think Interstate Highway Project. Private investment can happen along side and should. But the core things are public works so that the primary returns are either going back to the treasury to pay down debt, or going to people to reduce their cost and risk exposure or employ them at meaningful compensation levels. Directly employ people for infrastructure too. The usual people do not need more money. They will benefit from public works, will have to compete and or can invest alongside, same as they did last time. We all benefit.
  - boomboomsubban 6y ago
    Replying to a post criticizing Ackman's plan made it seem like you were defending that plan, but your plan is completely different. I misunderstood what point you were making.
    - ddingus 6y ago
      All good. Was just kind of flowing in the moment. Didn't mean to be confusing. Cheers!