Dr. Jeff on Nostr: Random factoid: For most businesses and--especially--governments, #debt isn't paid ...
Random factoid:
For most businesses and--especially--governments, #debt isn't paid off, it is rolled forward.
Paying off debt is counterproductive and actually injurious to a credit-based, Keynesian economic system.
It is not the goal, and it never has been... despite the rhetoric.
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As an aside, things will function very differently once #Bitcoin inevitably becomes the global reserve asset and global reserve currency over the coming decades.
For most businesses and--especially--governments, #debt isn't paid off, it is rolled forward.
Paying off debt is counterproductive and actually injurious to a credit-based, Keynesian economic system.
It is not the goal, and it never has been... despite the rhetoric.
---
As an aside, things will function very differently once #Bitcoin inevitably becomes the global reserve asset and global reserve currency over the coming decades.