Originally posted by Turf Doc
View Post
I think you will probably see some major problems with this in your lifetime.
Debt = risk.
If it can destroy an individual or a business it can destroy a country.
Hubris to think otherwise.
“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.”
John Adams 1826
Was John Adams wrong?
Maybe. If so, and debt is irrelevant, great.
But are you certain?
I am ok with saying i might be wrong.
I actually hope I am wrong.
I might be oversimplifying it or not fully understanding it but people in favor of debt / spending / printing $, are very dismissive and condescending.
Overconfidence? Hubris?
Certainty that "this is a different situation" and "you don't understand monetary policy". and "printing money is OK for governments"
Pascals wager comes to mind for me. Consequences must be considered.
If there is a 0.1% chance of failure and failure results in obliteration is it a good gamble?
What are the consequences if they are wrong?
You seem certain debt for a country is different than debt for a person or business.
What if it is not different?
Sorry to derail the thread.
Comment