GM
I like this tweet from nostr:nprofile1qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgdwaehxw309ahx7uewd3hkcqpqaftmyhm62lrp6lwsha3yzyjy5kqdvuy7g23qg28a8q0cnmudv0ds8n6kaa on X:
Discussion
Well, these figures are not far from an average low-income US family trapped in consumer credit debt, aren't they?
It's a systemic monetary/cultural issue not only a public accounts one.
We forget everybody is the same.
I remember the first time I realised how similar large companies and governments are to individuals. I've dealt with stupid companies and clever companies, I've dealt with poor and rich companies and I've dealt with ethical and unethical companies.
I've had limited interaction with governments, but from what little I've had, they are the same.
The only thing is the debt doesnt matter and will never be repaid.
That is debated, the debt is to the bond holders, who buy bonds expecting interest payments and eventual return of the capital.
The bond holders are generally other governments and institutions rather than individuals, so you could argue that they can afford to loose the principle if the Interest is paid over time.
Probably some can, but some can't.
In the fiat system, debt is money and those buying the gov bonds also get money created from nothing to buy them LOL
