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There is a very large and growing portion of the US that maintains no savings at all. In fact it's the opposite and many are slowly spending their way into perp
by thatguy0900 9mo ago
There is a very large and growing portion of the US that maintains no savings at all. In fact it's the opposite and many are slowly spending their way into perpetual credit card debt.
- direwolf20 9mo agoIt's essential to the way the system works. One person's money is another person's debt. Normally the government would take on enough debt to ensure everyone had money, but the USA is a weird case.
- lotsofpulp 9mo agoMoney and debt are just mechanisms to allocate resources. The government can print infinite money like Zimbabwe and it wouldn’t matter if there aren’t enough resources to allocate.