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We're not borrowing anything objectively real. We are "borrowing" fiat money that we can inflate or simply abandon any time we feel like it. If the US can't ser
by api 13y ago
We're not borrowing anything objectively real. We are "borrowing" fiat money that we can inflate or simply abandon any time we feel like it. If the US can't service its debt, it will simply devalue it.
- genwin 13y agoYes it will devalue it. That will still have consequences enough to want to avoid unnecessary borrowing now.