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The economy doesn't need workers as consumers necessarily. It would of course be a huge shock to the economy but the economy could adjust to it eventually. Mayb
by fulafel 3mo ago
The economy doesn't need workers as consumers necessarily. It would of course be a huge shock to the economy but the economy could adjust to it eventually. Maybe it compromises the 2040 timeline. Still, billionaires are increasingly holding the assets. The money supply drying up can be countered, as it is controlled by central banks and can be arbitrarily increased.
- KaiserPro 3mo ago> as it is controlled by central banks and can be arbitrarily increased. Its really not controlled by central banks. Its influenced, but not controlled. When central banks "print" money, they effectively just add money to the accounts of investment banks But investment banks are also "printing" money. Double accounting effectively uses assets to double the available pool of money. If you then sell off those loans based on those assets, then you crystallise that new money. Investment banks are inflationary.
- deleted 3mo ago[deleted]