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The US is $37 trillion in debt. It’s pretty clear doing it terribly is not sustainable. Meanwhile dozens of countries are doing the above without immense debt.
by testing22321 1y ago
The US is $37 trillion in debt. It’s pretty clear doing it terribly is not sustainable.
Meanwhile dozens of countries are doing the above without immense debt.
- achenet 1y agoCounter-argument, largely lifted from Graeber's _Debt, the first 5000 years_: The US trade deficit isn't ever really meant to be repaid, it's basically the modern equivalent of the Roman Republic/Empire demanding tribute from weaker states with a thin veneer of "I'll pay you back" to make it more palatable. Like the time the homeless dude living under a bridge near me asked to "borrow" 50€ from me :)
- testing22321 1y agoWhether a loan is meant to be repaid or not doesn’t change the fact that the need to borrow money to get something done makes it unsustainable.