4 ms·

Who holds the vast majority of the debt of the government of the United States? Hint: it's not China, the UK or any other foreign government. It's us silly. W

Who holds the vast majority of the debt of the government of the United States? Hint: it's not China, the UK or any other foreign government. It's us silly. We owe ourselves. :)

atq2119 2y ago
Precisely. The only potential problem here is that "we owe ourselves" simplifies things given that some individuals are owed much more than others, i.e. there's inequality. Other than that? The whole debt charade is just political groups weaponizing (and perpetuating) the lack of fairly basic macro-economic understanding in the population.
carlosjobim 2y ago
[flagged]
- Nasrudith 2y ago
  There is a reason why third world countries choose IMF funding even with the strings attached even though default is always an option. It turns out having credit is very valuable to stability and progress and therefore defaulting is a very bad thing.
  - carlosjobim 2y ago
    The reason being that the ruling class benefits from selling out their subjects to financial vultures? Being rich in a first world countries is very neat, even great. Being rich in a third world country is like thirteen levels above that. For you and for your family.
- caspper69 2y ago
  Truth be told, it's institutional money. Turns out that having a 100% guaranteed return is attractive to a lot of large-scale investors, even if the yields don't make the money machine go brrr. This is one thing that worries me about the current administration. A lot of trust is built on the fact that the US gov't has never defaulted on a debt in its history. I feel like some people don't place enough weight into what that really means for both ourselves and the world.
  - carlosjobim 2y ago
    It's institutions who are investing on behalf of their elderly clients (for example pension funds and such). That 100% return is guaranteed by the whip that the government so willingly cracks over the backs of productive young people. Why would it be in the interest of the non-entitled to have a government which keeps swinging that whip? To guarantee the investments of the elderly who only have bottomless hate towards the young?

Who holds the vast majority of the debt of the government of the United States? Hint: it's not China, the UK or any other foreign government. It's us silly. We owe ourselves. :)

atq2119 2y ago

Precisely. The only potential problem here is that "we owe ourselves" simplifies things given that some individuals are owed much more than others, i.e. there's inequality. Other than that? The whole debt charade is just political groups weaponizing (and perpetuating) the lack of fairly basic macro-economic understanding in the population.

carlosjobim 2y ago

[flagged]

Nasrudith 2y ago
There is a reason why third world countries choose IMF funding even with the strings attached even though default is always an option. It turns out having credit is very valuable to stability and progress and therefore defaulting is a very bad thing.
- carlosjobim 2y ago
  The reason being that the ruling class benefits from selling out their subjects to financial vultures? Being rich in a first world countries is very neat, even great. Being rich in a third world country is like thirteen levels above that. For you and for your family.
caspper69 2y ago
Truth be told, it's institutional money. Turns out that having a 100% guaranteed return is attractive to a lot of large-scale investors, even if the yields don't make the money machine go brrr. This is one thing that worries me about the current administration. A lot of trust is built on the fact that the US gov't has never defaulted on a debt in its history. I feel like some people don't place enough weight into what that really means for both ourselves and the world.
- carlosjobim 2y ago
  It's institutions who are investing on behalf of their elderly clients (for example pension funds and such). That 100% return is guaranteed by the whip that the government so willingly cracks over the backs of productive young people. Why would it be in the interest of the non-entitled to have a government which keeps swinging that whip? To guarantee the investments of the elderly who only have bottomless hate towards the young?