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You seem to agree with Keynes. Assuming you’re in the lower 99%, are you wealthier in proportion to increases costs over the past quarter? I personally don’t b
by jonhohle 3y ago
You seem to agree with Keynes. Assuming you’re in the lower 99%, are you wealthier in proportion to increases costs over the past quarter?
I personally don’t buy it. When other country’s start divesting from US treasury ties, the party will be over. Already prices are rising faster than income. What did Germany, Zimbabwe, and Argentina, Venezuela, etc. do wrong, that the US is doing right?
- criddell 3y agoA better question is to ask what is Japan doing right since they are a lot farther down this path. Their debt to GDP ratio is something like 230% which is almost 2x the US ratio.
- seanmcdirmid 3y agoThe answer is that Japan isn't doing it right. People struggle, taxes are high and pay is generally low (but for tourists, Japan is incredibly affordable). They still do OK, but we shouldn't see Japan as a model of how to do things.
- criddell 3y agoDo you think if the government had less debt, all of those problems would be less severe?
- seanmcdirmid 3y agoThat is impossible to say in isolation of just that one factor. My only claim is that Japan shouldn't be considered to be doing well.