4 ms·

I don’t understand why we’re even talking about cancelling debt (which is sort or a euphemism anyway - it means using tax payer money to pay off the debts). Wh

by DougN7 4y ago

I don’t understand why we’re even talking about cancelling debt (which is sort or a euphemism anyway - it means using tax payer money to pay off the debts). Why do the current debt holders get their debt canceled? What about previous and future student debt holders? Why are we paying off people’s student debts? What about other forms of debt too? It doesn’t make sense to me.

lotsofpulp 4y ago
It causes sufficient outrage to get clicks, and generates publicity for some politicians for the same reason.
orwin 4y ago
What's interesting is that taxpayer money is rarely used to pay debt (in modern economies, it happened once in the US, around the 2000s, and i think one year in Germany too). Instead, we just issue lees debt than the year prior as our GDP grow. Debt is just another name for obligations. Right now, pension fund (and the government i guess?) hold most of them. If the US governement choose to forget that debt, it will take it upon itself. Or issue money to repay it. However, there is another danger than inflation or more government debt: people choosing to play an alternate game. Each generation have those. The hippies, then the back to landers were probably the first to check out. But now, you can see full communities stopping to play our game. They get an education, grow on adult's production, then after they grew up check out and join an alternative way of life, and produce mainly for themselves. But the proportion is growing way too fast, especially if you count the NEET staying at their parent's home and knowing that they can reach FIRE without the FI with their parent's assets (often high-middle class guys). I am involved in this communities in my country. I fix electronics and configure arduinos for them. I know that if this continue, this will be an issue for my way of life, but really, the only difference between me and them asset-wise is luck and timing. I can't really blame them for stopping, if i was a minwage earner i would've stopped too.

by DougN7 4y ago

lotsofpulp 4y ago

It causes sufficient outrage to get clicks, and generates publicity for some politicians for the same reason.

orwin 4y ago

What's interesting is that taxpayer money is rarely used to pay debt (in modern economies, it happened once in the US, around the 2000s, and i think one year in Germany too). Instead, we just issue lees debt than the year prior as our GDP grow. Debt is just another name for obligations. Right now, pension fund (and the government i guess?) hold most of them. If the US governement choose to forget that debt, it will take it upon itself. Or issue money to repay it. However, there is another danger than inflation or more government debt: people choosing to play an alternate game. Each generation have those. The hippies, then the back to landers were probably the first to check out. But now, you can see full communities stopping to play our game. They get an education, grow on adult's production, then after they grew up check out and join an alternative way of life, and produce mainly for themselves. But the proportion is growing way too fast, especially if you count the NEET staying at their parent's home and knowing that they can reach FIRE without the FI with their parent's assets (often high-middle class guys). I am involved in this communities in my country. I fix electronics and configure arduinos for them. I know that if this continue, this will be an issue for my way of life, but really, the only difference between me and them asset-wise is luck and timing. I can't really blame them for stopping, if i was a minwage earner i would've stopped too.