Quote:
Originally Posted by Raev
[You must be logged in to view images. Log in or Register.]
Making this a partisan issue is prima facie ridiculous when Obama added a cool $10 trillion to the national debt. The good news is that we are not borrowing against our children's future! As the world's reserve currency, US deficits don't matter because other nations need our debt as high quality collateral (see: Triffin's Paradox). With Trump in charge and the American economy booming this could go on for quite some time. Clinton and the globalists would have switched to the SDR. In any case, the US debt will never be repaid in real terms. It will be inflated away, and the losers will be the people holding treasuries, which will mostly be the boomers' pension funds.
|
We can't just print money to pay off our debt without also destroying our own system, and our status as the reserve currency is as fragile as Europe deciding it wants to replace it with the Euro when it becomes fully evident the United States is a second-rate nation.
Further, our status as a reserve currency is dependent upon the world order built by globalists that exploits economic inter-connectedness for our own benefit. Your boy Trump's attempts to isolate the United States diplomatically and economically and institute neo-mercantilism are going to bring an end to that shit real quick. No point in using the dollar for cheap imports when it's all protected behind tariffs. Meanwhile, Europe and China continue to reap the benefits of free trade.
I know you know enough about economics to realize protectionism is horrible in the long run. It's a shame you're apparently too much of a Trump fanboy to admit he's wrong on this.
Quote:
Originally Posted by Raev
[You must be logged in to view images. Log in or Register.]
This analogy fails miserably. Deregulation and tax cuts and free(er) markets aren't a temporary fix, it's the best way to organize an economy in the long run.
|
They are the best way to promote economic growth in the long run, actually. It's an important distinction. Unchecked growth is for bacteria, not people. Do you know what else deregulation and regressive tax do? They further concentrate wealth in the hands of our country's owners. In terms of the economic wellbeing, social mobility, and life satisfaction of your average American, an income bonanza for only the capitalist class is not a great outcome. It's only going to lead to more poverty, instability, and volatility. And continued worsening quality of life in what is already one of the worst developed countries to live in... largely because of our selfishness.