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How do we square this with the US owning 30% of the world's wealth (after balancing all public and private debts)? https://en.wikipedia.org/wiki/List_of_countri

• quantified 4y ago
  The economy isn’t money. I expect there may be other variables not included. But like climate change, ignore the problems and things f up eventually in various ways. Probably later than you think, but in ways that spread everywhere and you can’t stop after they really start. What he’s describing is a system that will be past the point of no return at some point if the rules of the game aren’t changed. That point may well be past. Our politicians and business owner interests are too invested in the current game and haven’t given a care past the last election cycle or annual report in a long time. They have too much control over too-large pieces of the economy. But the modern economy is also pretty large to be managed. We could change the rules of the game. I know people who have advocated just defaulting on all the debt for years. If the debts are defaulted/wiped in calculated relationships (I forgive you X, you forgive him Y, he forgives her Z) maybe some of this becomes less painful. Not that we’re competent enough to do that, we’re the ones that gave Russia their current kleptocracy, thank you Harvard very much.