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> The national debt is a bullshit non-problem. Can you elaborate? I ask because debt (along with domestic snooping) is at the top of my voting criteria right n
by gred 13y ago
> The national debt is a bullshit non-problem.
Can you elaborate? I ask because debt (along with domestic snooping) is at the top of my voting criteria right now -- city, state and national.
- astrange 13y agoThe nation owes debt in USD, but controls the supply of USD and can always print more. This causes inflation as a side effect, which is not a problem, or you would have noticed it. I don't see why you should care about city debt either, unless you live somewhere near bankrupt. Interest rates are incredibly low meaning there is no better time to be in debt, and you probably have some crumbling public infrastructure in the area.
- gaius 13y agoThe flipside of that if course is if the rest of the world finally gets its act together and starts to trade oil in some other currency, the US implodes overnight. You're in a powerful position right now, but it is more precarious than you think.
- antientropic 13y agoPaul Krugman would disagree with the odds of an "overnight implosion": http://krugman.blogs.nytimes.com/2013/10/22/godwin-and-the-greenback/ http://krugman.blogs.nytimes.com/2013/10/22/godwin-and-the-g...
- gaius 13y agoKrugman's solution to every problem is to print more money. He's a one-trick pony.