A world without debt is impossible.

[Hooked]

We're continuously making better stuff more effectively -> the amount of money it's all worth keeps rising. Nothing intrinsically problematic in that.

Most of the stuff is worthless if the power goes out.

[Belloc]

LUL. Stop using "well 500 years in the future" as a basis of conversation.. just stop.

Why? This whole thread is speculatory... why shouldn't my comments be, as well?

[Deleted]

We're continuously making better stuff more effectively -> the amount of money it's all worth keeps rising. Nothing intrinsically problematic in that.

Which is bought with more money. Created from debt.

[Yvaelle]

Intro to macro economics?

It's actually a surprisingly good intro, I was tempted to make a big post explaining shit - but then I realized I could just leave the alt-right posters to get all frothy about the role of debt in a modern economy until it maybe clicks for them?

We could finally move past the whole, "Balancing a federal budget is like balancing a household cheque-book!" nonsense!

[Scarletlion]

We should just cancel all debt and make everyone start over.

And what will you solve by doing that? Economics is just not that simple. As long as people/countries/organisations trade, there will be debt aswell. It's just the nature of the economy.

[Total Crica]

Most of the stuff is worthless if the power goes out.

Which is why I always found it suspicious that terrorists who hate the USA would target the Trade Center or anything like that instead of our power plants.

[Gamdwelf]

Which is why I always found it suspicious that terrorists who hate the USA would target the Trade Center or anything like that instead of our power plants.

Our electrical infrastructure is kinda horrible.

[Belize]

Ironically OP knows about as much about global economies as the actual Trump.

[truckboattruck]

a person without debt is very possible

heres a tip, dont spend other peoples money and save your own!

[Hypasonic]

I have £100 of debt on my credit card, some people literally have tens of thousands. Way to live beyond your means.

[alexw]

It's actually a surprisingly good intro, I was tempted to make a big post explaining shit - but then I realized I could just leave the alt-right posters to get all frothy about the role of debt in a modern economy until it maybe clicks for them?

We could finally move past the whole, "Balancing a federal budget is like balancing a household cheque-book!" nonsense!

I am surprised they didn't immediately start blaming (((them))) given the alt-right's antisemitism.

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I have £100 of debt on my credit card, some people literally have tens of thousands. Way to live beyond your means.

So does the entire planet. There is more debt outstanding than their is money to pay it back.

[Gamdwelf]

I am surprised they didn't immediately start blaming (((them))) given the alt-right's antisemitism.

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So does the entire planet. There is more debt outstanding than their is money to pay it back.

#notallaltright

[Deleted]

isn't inflation the intended mechanic to deal with this?

[Hypasonic]

No it's not. Mars has no debt and it's a world.

What? At the last time of checking, Earth currently owes Mars £879t ...and Mars owed Jupiter £98.6 Gazllion. Infact our Galaxy owed the Andromeda Galaxy an amount that I can't even write down.

[alexw]

#notallaltright

If you swim in sewage then expect to get covered in it.

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isn't inflation the intended mechanic to deal with this?

Its dealt with by the creation of ever more money-debt. When money-debt is created the money stays constant but the debt compounds. In order for society to not be overwhelmed by that debt more money-debt needs to be created, but then that leads to more compounding debt. The end result is ever increasing quantities of money need to be created and issued. If that ever stops so does the whole system.

[Yvaelle]

What? At the last time of checking, Earth currently owes Mars £879t ...and Mars owed Jupiter £98.6 Gazllion. Infact our Galaxy owed the Andromeda Galaxy an amount that I can't even write down.

Ya Jupiter built that Space Wall between itself and Mars, and made Mars pay for it... 98.6 Gazillion Martian pounds sterling later and inner solar system illegal aliens are still trying to get into the vaunted outer solar system!

[alexw]

Ya Jupiter built that Space Wall between itself and Mars, and made Mars pay for it... 98.6 Gazillion Martian pounds sterling later and inner solar system illegal aliens are still trying to get into the vaunted outer solar system!

I heard they had well paying jobs there harvesting Jupiter clouds.

[Glorious Leader]

If you swim in sewage then expect to get covered in it.

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Its dealt with by the creation of ever more money-debt. When money-debt is created the money stays constant but the debt compounds. In order for society to not be overwhelmed by that debt more money-debt needs to be created, but then that leads to more compounding debt. The end result is ever increasing quantities of money need to be created and issued. If that ever stops so does the whole system.

But debts in the private sector are fixed. They become easier to pay back in real terms with wage inflation. On the other hand deflation tends to favor creditors as the real cost of debt back is.prohibitive.

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It's actually a surprisingly good intro, I was tempted to make a big post explaining shit - but then I realized I could just leave the alt-right posters to get all frothy about the role of debt in a modern economy until it maybe clicks for them?

We could finally move past the whole, "Balancing a federal budget is like balancing a household cheque-book!" nonsense!

Theirs an interview on youtube with paul samuelson where he says the balanced budget myth is like old time religion. Its used to promote a particular set of values.