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I wish I had the determination to round up all the comments on hacker news that said debt didn’t matter for the US or inflation wasn’t caused by debt. The peop
by georgeplusplus 3y ago
I wish I had the determination to round up all the comments on hacker news that said debt didn’t matter for the US or inflation wasn’t caused by debt.
The people that have been warning about this scenario for a decade are finally getting proven right. The us banking system is unraveling before us and I’m getting the pop corn out.
Hopefully the people learn from the failed systems that caused this debt bubble like San Francisco and don’t spread their ideas farther than those borders so something is salvageable from this mess we created.
- p-e-w 3y ago> The us banking system is unraveling before us and I’m getting the pop corn out. People said the exact same thing in 2009, and two years later everything was back to the way it had been before.
- ngetchell 3y agoHonest question. If inflation was caused by debt, why is inflation going down while the debt increases faster?
- plonk 3y agoBecause interest rates are increasing? Both the cost of debt and the cost of the dollar increase.
- ngetchell 3y agoI suspect rising interest rates and stable gas prices are what is causing lower inflation. The parent stated a link between more debt and more inflation and was hoping for an explanation that would explain the link.
- plonk 3y agoGovernment spending both increases the government's debt and causes inflation. Maybe that's the link they are looking for. Plus, I don't know much about monetary policy, but wouldn't the Fed feel obliged to start quantitative easing if the government's debt put it in difficulty?