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The biggest problem with the U.S debt is it means there are people with no creativity and entrepreneurial risk-taking ability that are earning 5% on a trillion
by narrator 3y ago
The biggest problem with the U.S debt is it means there are people with no creativity and entrepreneurial risk-taking ability that are earning 5% on a trillion dollars through taxation of the people who are. This is an enormous waste.
In China, where people aren't allowed to take money out of the country easily and there is no huge government debt market, people must invest in something that could possibly not turn out well and which is likely to increases the capital stock of the country in terms of factories, housing, infrastructure, etc. if it does. In the U.S it's just dumb money getting billions for exercising no creativity and risk-taking ability.