3 ms·

Tell that to the Romans.

• wowoc 2mo ago
  The Romans couldn't manufacture new cash by flipping bits in computers' memory
  • cherryteastain 2mo ago
    They did the equivalent in their time which was cutting the precious metal content of their coinage.
• TSiege 2mo ago
  The Romans used the gold standard the US does not
  • danesparza 2mo ago
    The original quote that I was responding to was "No one serious is worried about American solvency. The paper says 50% over the next 10 years, but even most economists misunderstand how the monetary system works. There are so many other issues to worry about at the moment more immediate than solvency." And the only point I was trying to make was this: Nobody expects an entire (powerful) system of government to stop being a thing ... until it stops. And other powerful governments have stopped being a thing. I'm sure there were plenty of pundits in ancient Rome who said things like, "No one serious is worried about Roman solvency". And eventually, they were wrong. --- Side note: It doesn't matter if unserious people think these things or not. The article's premise is about the ideas of "too much debt" making the bond market a more risky bet. If people aren't buying bonds this will eventually slow (and stop) cash flow to governments (including the federal government) to the point of it being a crisis, because bonds cover 25% of our Federal government spending.
• epsteingpt 2mo ago
  The Romans didn't have the Federal Reserve.