Quote:
Originally Posted by antipop
Well it doesn’t matter. Japan is at 300%. If you are a monetary sovereign then the debt is not a problem.
The debt for the government is an asset for households and businesses. So it should not be seen in isolation.
As for inflation, the central banks have been trying to actually start some inflation but it’s not happening. So we have room to print plus with COVID we’re far from full employment.
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Keeping in mind that no Empire, Government or Financial system has ever withstood the test of time, historically speaking, saying "it doesn't matter" is not very reassuring.
Sure, there were some that persisted, the Pandyean Empire of wealthy South Indian Kings lasted 1850 years... It still ended as did Byzantine, Silla, Ethiopian and Roman Empires...
Australian Aboriginal culture has remained intact, with largely continuous religious and political structure, for more than 50,000 years (and possibly 65,000 or more). Australians Aboriginals have never formed empires or states in the same sense as the other known nations.
The US has been around for 244 and already there are some big questions as to where it is all headed with such a debt and budget deficits.
The 2025 US Debt, according to the same clock will be $49 Trillion...