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Do you actually believe all of the world's debt can be repaid?
by wildrhythms 4y ago
Do you actually believe all of the world's debt can be repaid?
- 0xcde4c3db 4y agoNot a chance. I believe we're all mostly out here trying our best to make the numbers add up, when we're not (judiciously, I hope) looking the other way because some particular numbers offend our sensibilities. People are complicated, and economies are made of people. Money isn't a law of the universe, it's a technology we invented and (mis)apply in accordance with our values and desires.
- imtringued 4y agoIt can be in barter clubs and with demurrage currencies. The problem with debt is that it takes two to pay off debt. The creditor has to spend off their savings at the same rate the debtor pays off their debt. This type of synchronization requires a negative price signal on money though.