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The Economy as a Lifeboat
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The numbers are meaningless. Might as well be 100 trillion - it will never be paid back because the debt does not really exist. It's a total Ponzi scheme. The "government" is borrowing from "itself". It makes "payments" with more borrowed "money".
Everyone "buys a bond" that pays 2% when inflation is 4%. There are no risk-free investments that keep up with inflation. A whole generation's savings have been destroyed with 0.01% interest on savings accounts. Suppose you worked all your life and retired with $400,000. At current interest rates you would earn $40 per year. |
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