|
|
Post by Marshall on Jan 21, 2024 8:56:33 GMT -5
The metric I always hear about nation's debt is the ratio of debt to GDP. Don't know what the breaking points are, but the ratio signifies the level of debt to the value of the economy of a nation. Yes, our debt is high, but our GDP is enormous.
|
|
|
|
Post by millring on Jan 21, 2024 9:00:33 GMT -5
"But I don't think the problem is simply that we aren't paying enough, or aren't willing to pay more taxes. There remains the fact that we are spending too much because we have fostered the idea that we don't have to pay for it at all." That's why you're more conservative than I am. I think providing support to the Ukrainians, for example, is an investment towards thwarting further land grabs by the thugs of the world, and I'm content to pay my share of that. Etc. Maybe. Maybe it does come down to what each of us believes is misuse of government spending. But I'm not against spending toward the defense of Ukraine in principle. So that might just be a flawed example of a well-observed possibility. |
|
|
|
Post by Cornflake on Jan 21, 2024 9:09:44 GMT -5
"Maybe it does come down to what each of us believes is misuse of government spending." Everyone thinks that spending on things they don't care about is a misuse of public funds.  |
|
|
|
Post by dradtke on Jan 21, 2024 18:46:01 GMT -5
I suspect that public confidence is perhaps the only thing keeping us from disaster, and that means the press holds a LOT of power. Public confidence is the only only only thing that gives money any value. The only reason you'll accept a green piece of paper with $20 printed on it from someone is because you're confident that everyone else will accept it from you in turn. Not sure what the press has to do with that. |
|
Dub
Administrator
I'm gettin' so the past is the only thing I can remember.
Posts: 19,910 
|
Post by Dub on Jan 21, 2024 19:49:11 GMT -5
I suspect that public confidence is perhaps the only thing keeping us from disaster, and that means the press holds a LOT of power. Public confidence is the only only only thing that gives money any value. The only reason you'll accept a green piece of paper with $20 printed on it from someone is because you're confident that everyone else will accept it from you in turn. Not sure what the press has to do with that. I think he means that if “the press” reports that US money is losing value at 50% per day, all confidence will vanish and money will become worthless. |
|
