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Or maybe you don’t understand what debt actually is.
by mdavid626 8mo ago
Or maybe you don’t understand what debt actually is.
- konart 8mo agoSay I produce furniture. I borrow from you. I now have debt. I sell furniture. Now I can pay you back some part of it (up to 100%). You (and other parties) see that I'm quite good at what I do and my products sells. I now can borrow from you and other parties again to produce more (and possibly diversify my business). I sell more, I open new businesses etc. I pay you and other parties back. And borrow again. I can and will have debt (and it will grow over time) because this is what allows me and my business to grow. I can borrow and be in debt till the day I die. This basic concept is too foreign for people for whom "debt" is just a sum of money they borrowed from their friend and somehow now feel ashamed.
- mdavid626 8mo agoI didn’t say debt is bad in general. I say the current amount of debt and the promise of we have unlimited money is what’s wrong.
- wiseowise 8mo ago> we Of course мы do, tovarisch.
- konart 8mo ago>I say the current amount of debt and the promise of we have unlimited money is what’s wrong. What does this have to do with "unlimited money"? USD is just a "contract". A trillion in debt is not the sum of fiat paper the US owes anybody.
- squidbeak 8mo agoDebt is the money supply.
- wiseowise 8mo agoRight, it must be biggest country in the world with the economy size of Italy, ostracized by everyone except other outcasts, fully dependent on selling cheap carbon fuel under market rates, and that struggles to occupy Donbass for 12 years.
- deleted 8mo ago[deleted]