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57 sats \ 2 replies \ @halalmoney 22 Aug \ on: Debt levels: irresponsible policies are sinking the world into debt econ
I think it’s important not to let crazy things such as the gargantuan public debt load get under your skin.
That which appears absurd may continue to be absurd for far longer than one’s back of the envelope calculations predict.
Governments are interested in managing the debt, not clearing it.
When I was a gold bug I was convinced that things would come crashing down ‘very soon’ and gold would soar to $5k. Yet, here we are, many years later, with the debt load much higher and gold only half-way to my predicted price.
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0 sats \ 1 reply \ @TomK OP 22 Aug
you are absolutely right. this will take many more years and I don't see a crash of the dollar in relation to other currencies. the way politics works is to force the debt on others, squeeze in funds, banks and other institutions and buy more time.
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68 sats \ 0 replies \ @didiplaywell 22 Aug
Yes. Exactly. You're at a negligible 1/100 ratio of devaluation of the dollar. Its non existent when compared to ratios as Argentina (1/ 10.000.000.000.000.000.000 - yes, it's a real number-) and look where we're. America can go 100 years in decadence still. That's why bureaucrats are unscathed and undeterred on this path.
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