Hacker News Reader

Comment by atomic77 | Hacker News Reader

Somehow this gives me the image of a "high functioning" meth addict discovering the rush delivered by this wonderful drug called heroin. Surely he'll keep things under control.

View on HN

And much like the heroin addict, the highs these days just aren't that high anymore, and it will never even glimpse the power of that first time.

A government aggressively trying to borrow less money gives you that image?

"borrow less" is the new "pay back what you owe"

Not paying back what you owe is default, and the countries in that position aren't the countries being talked about.

That is an incorrect definition of "owe." Owing begins at the inception of incurring a liability, not at the moment of being legally required to pay the obligation.

And even if you had used the correct definition, retorts like yours are pointlessly pedantic, petty and add no value to a discussion.

Countries are paying back what they owe. How does your original reply add anything or even make sense? If you are this worried about it you should probably at least understand what you are talking about.

I'm not sure I follow. Lowering rates encourage borrowing, is that not the point?

You are mixing up government borrowing with private borrowing.

When did I say anything about either? I made a general statement about the effect of interest rates on borrowing, which, the last I checked, is equally applicable to governments as it is to private borrowers.

In fact it seems you disagree with my original metaphor, and are commenting without having actually stated the way you interpreted it.

Lowering interest rates encourages private borrowing. Lower interest rates discourage buying treasuries from a government because the rates are lower. You didn't say anything about either because you didn't realize that's what you were referring to.

Reply on news.ycombinator.com