re: #390 Obdicut

Thanks, I’m perfectly aware of the story. I have no idea why you find it necessary to link to it.

My point is that government spending doesn’t vanish into thin air. You’re making the point that government can fuck up and acquire debt— they can, sure. That has nothing to do with my point. Any spending that occurs still actually happens, the money actually still goes places. It doesn’t just get burned.

The point is not so much government debt but debt to the point of sovereign default. Which is indeed “spending into thin air”, once the debt restructuring happens and everybody’s savings suddenly take hair cuts.

Do you understand?