3 ms·

But I don't get it. When push comes to shove, wealth is debt. Concentration of wealth is directly related, indirectly caused, by debt. Debt is what investors ar

by spwa4 2mo ago

But I don't get it. When push comes to shove, wealth is debt. Concentration of wealth is directly related, indirectly caused, by debt. Debt is what investors are willing to put in. The bigger the economic union they live in, the more debt investors will be willing to put up with. This leads to wealth concentrating over time, and the more concentrated wealth will be, the poorer these rural villages will be, and everybody runs. They chose policies to go deeper into debt, to join a bigger union to go deeper into debt. I mean, how is this not what they wanted?

pjmlp 2mo ago
Because without the union, you would still take at least 6 hours drive from Porto to Evora, using national roads, preferably during the night unless you wanted to cook between 30 and 40 degrees celsius as I did so many times during may childhood in late 70's, early 80's, instead of the cosy 4h something from taking the motorway. That debt is what allowed many of the infrastructure that is now in place. However it is also the consequence of that debt, that only the middle to low level classes get to experience, that now puts all right wing parties on leading votes, even thought most Boomers and Gen Xers across Europe, should know better how living under dictatorships feels like.
- spwa4 2mo ago
  > Because without the union, you would still take at least 6 hours drive from Porto to Evora, using national roads, preferably during the night unless you wanted to cook between 30 and 40 degrees celsius as I did so many times during may childhood in late 70's, early 80's, instead of the cosy 4h something from taking the motorway. Is this supposed to be an argument? Yes it's fun to buy nice things. I'm aware of that. Especially with other people's money and work. > That debt is what allowed many of the infrastructure that is now in place. And Gen X is the major part of the people paying for it about now. > even thought most Boomers and Gen Xers across Europe, should know better how living under dictatorships feels like. Obviously they think it feels better than having the government spend less, which is of course the deal you handed them with: you got to have the government spend more on you and your generation, by promising it would spend less on them and their generation, while taxing them more. Your generation promised that, on their behalf. They weren't born yet, or at least not politically active, to complain about it. So why should they, why would they, accept less than you got? Your generation promised their work, and then spent all the money. Can they do the same to your generation perhaps? Take a similar amount of money back, which would roughly equate to cutting elderly pensions to zero for 30 years or so, well, until the debt is paid off. That would make it be more like if your generation spent it's own money.
  - pjmlp 2mo ago
    Are we now turning this into one of those generation discussions that plague social media?

by spwa4 2mo ago

pjmlp 2mo ago

Because without the union, you would still take at least 6 hours drive from Porto to Evora, using national roads, preferably during the night unless you wanted to cook between 30 and 40 degrees celsius as I did so many times during may childhood in late 70's, early 80's, instead of the cosy 4h something from taking the motorway. That debt is what allowed many of the infrastructure that is now in place. However it is also the consequence of that debt, that only the middle to low level classes get to experience, that now puts all right wing parties on leading votes, even thought most Boomers and Gen Xers across Europe, should know better how living under dictatorships feels like.

spwa4 2mo ago
> Because without the union, you would still take at least 6 hours drive from Porto to Evora, using national roads, preferably during the night unless you wanted to cook between 30 and 40 degrees celsius as I did so many times during may childhood in late 70's, early 80's, instead of the cosy 4h something from taking the motorway. Is this supposed to be an argument? Yes it's fun to buy nice things. I'm aware of that. Especially with other people's money and work. > That debt is what allowed many of the infrastructure that is now in place. And Gen X is the major part of the people paying for it about now. > even thought most Boomers and Gen Xers across Europe, should know better how living under dictatorships feels like. Obviously they think it feels better than having the government spend less, which is of course the deal you handed them with: you got to have the government spend more on you and your generation, by promising it would spend less on them and their generation, while taxing them more. Your generation promised that, on their behalf. They weren't born yet, or at least not politically active, to complain about it. So why should they, why would they, accept less than you got? Your generation promised their work, and then spent all the money. Can they do the same to your generation perhaps? Take a similar amount of money back, which would roughly equate to cutting elderly pensions to zero for 30 years or so, well, until the debt is paid off. That would make it be more like if your generation spent it's own money.
- pjmlp 2mo ago
  Are we now turning this into one of those generation discussions that plague social media?