Replace UBI with deficit spending and your statement is the exact same.
Personally, I’d love if everyone got 1B dollar checks. The smart can buy more Bitcoin, the poor can repay their debts, and the dollar can go to shit faster.
It’s either slow, uneven debasement or fast, distributed debasement. Rip it baby.
Yes it basically applies to all govt spending, but I'm not so sure that level of accelerationism would do anything but force intelligent people to flee the chaos. Coercive political strings would almost certainly be attached to the money & there would be massive shortages & inflation with any significant & sustained effort at UBI.
fairs. i disagree with the band aid rip idea...id rather not live in mad max capitalism. Slower the better and I know there is no world where all deficit spending is replaced with UBI...it will be UBI on top. But I also think, while unfair, targeted deficit spending is less damaging to price discovery and capital flows.
That’s true.
My main problem with targeted deficit versus broad stimulus is that the things specific deficit is targeted at are usually evil crimes against humanity. War, surveillance, property confiscation, and destructive forms of research and propaganda (COVID)
If you give average people checks, they will pay of their debt, buy food, pay rent, etc. Sure, the price discovery process is worse, but it’s the same end result as putting it all at the top and it prevents horrible central programs from being funded.
Also, Social Security is effectively UBI for old people. That already massively distorts the pricing mechanisms of society. Half of my customers are retirement age because they are the only people who can afford to not care about the price of restaurant food.
The fiat system of debt and money creation has to end, let’s get it over with.
I agree. Rip the bandaid off quick. No slow bleeding death. The shitcoin dollar needs to be exposed for what it is. To the billionaire UBI's of tomorrow 🍸🍸🍷🍷🍻🍻
