amrocha

This creditor/debtor dichotomy is meaningless. It doesn’t change the fact that the debt is owed in dollars and can always be serviced. If foreign investors lose confidence in the US and sell off their treasuries, the central bank can just purchase them and nothing would change. In fact, that’s what Japan does, and that’s why they’re a net creditor. And no, this would not lead to inflation. Again, look at Japan for an empiric example.

I don’t see how that’s relevant to the macro economics discussion, and I don’t see how Trumps tax cuts for billionaires are going to help you in any way.

Deflation is bad because it’s literally your economy shrinking. It’s not prices dropping, it’s less spending across the board. Depending on your demographics you end up with huge unemployment numbers or a standard of living for the older generation that can’t be sustained by the new generation.

If you’re arguing a fringe point of view please make that clear up front. If I knew you think deflation is good I wouldn’t have ever replied.

And by the way, you say Japan is an economic success story because of deflation, but I guess you never bothered looking up their 300% debt ratio that they have been running for decades, exactly because they didn’t want deflation to ruin their economy.

Two things:

1. Nobody is losing confidence in the US over debt ratios. Japan’s debt ratio is over 300%, and they’ve had no issues with financing their spending or capital flight. This is a myth that has been proven false.

2. If the private market doesn’t want to purchase bonds, the central bank can do it. Either way, there is never a need to default on debt owed in your sovereign currency. This will never happen. The risk here is inflation, but that risk is always present, regardless of how spending is financed.

Barring massive political instability, nobody is ever going to lose confidence in the dollar, regardless of debt ratios. Japan has a debt ratio of over 300%, economists have been predicting a crash and capital flight for decades, but none of it has come to pass.

At the end of the day, the Japanese market is huge and people want access to it. Same thing goes for the US.

If the private market doesn’t want bonds, the central bank can purchase them. That’s not inflationary. What is inflationary is how the government then spends that money, but that’s true for any government spending, regardless of how it was financed. Either way, the debt ratios is literally meaningless.

Japans debt is 300% of their GDP and yet their society seems to work a lot better than the US. Maybe there’s more to economics than debt ratios.

Infinite free money hacks is literally how fiat currencies work.

The government wants the economy to operate at close to full capacity, so it creates money and spends it into the private sector.

Eventually that money makes it to individuals, who want to save some of that money. There’s also foreign agents that might want to hold on to your currency, and trade happening that means some of your money leaves your country.

If the government maintains steady spending, this money supply slowly dwindles, which leads to a shrinking economy.

So governments issue debt to offset that dwindling money supply. The catch is that spending that doesn’t create real resources is inflationary, so you have to spend money on things that eventually earn you more money.

At the end of the day, that’s the idea of macro economics. Spend enough to get your economy growing, while making sure inflation doesn’t go up too much. Which is why people that complain about debt have no idea what they’re talking about.

You’re the one making extraordinary claims, you’re the one that has to substantiate them.

What do you think is more likely, that you’re an economic genius and you can see an impending crisis that 50 years worth of economists couldn’t, and that somehow that crisis is going to happen in the next few years? Or maybe you don’t actually understand how macro economics works and have been manipulated into thinking this way by your inherent dislike of government spending?

The deficit is not a huge problem. If all the deficit hawks literally disappeared tomorrow the country would run more efficiently.

Complaining about the “national debt” is the clearest sign that someone does not understand economics.

What do you think happens if the debt goes up? Do you think the government is gonna go bankrupt? That’s literally not how it works.

Do you think inflation is gonna happen? Again, literally not how it works. In fact, too low public spending means you get deflation which is even worse than inflation.

Why should you care if the national debt goes up or down? Why is it bad if it goes up? Do you actually understand the underlying mechanics, or have you just built a lot of eloquent abstractions around the idea of “number go up is bad”?

The original comment implies their “friends” are failures, which i don’t know about you but I wouldn’t say that about any of my friends, and wouldn’t expect any of my friends to say that about me.

Pointing that out is not a personal insult.

Ok, and I know programmers and scientists that used to smoke in college and are just as sharp as ever.

It literally encouraged drug use through exposure

Fiat currencies have value because you have to pay your taxes with it. There’s no choosing not to participate.

Sure, they made money off my work, I don’t mind that. That’s fine.

Your analogy about the public park is wrong btw. A better analogy is if someone ran a private park for years where musicians can come and collaborate with each other and expertly exchange ideas, and then after 20 years of running the park they sell it and move on with their life.

This is such an incomprehensible take. Every developer has benefited from SO. I’ve contributed to the site exactly because it’s been so good to me. I don’t need money on top of that. The website is the reward. Nobody cares about reputation.

Websites cost money to run, and I’m glad SO was so well monetized that it didn’t run out of money and get deactivated like so many of the old school forums we used to go to for help before.

It’s different people commenting on each post. There’s no “mind virus”.

You still need to map the real world to the map and actually follow the instructions. It’s the difference between navigating and having a driver navigate for you.

Page 18 first paragraph, it talks about how ChatGPT users engaged less with the editing process compared to other methods. Sorry, copy and paste isn’t working for some reason.

If that was the case every scientific paper would be written as socratic dialogue. But it’s not. Because that’s a good format for beginners, but not for science.

When you’re using a map you’re still navigating, even if you’re just following directions. The act of navigating teaches you spatial awareness regardless of how you got there.

AI doesn’t provide directions, it navigates for you. You’re actively getting stupider every time you take an LLMs answer for granted, and this paper demonstrates that people are likely to take answers for granted.

She. She says she prefers to go by she or they in her essay.

Why is China your enemy? China couldn’t care less about the US. They’re doing their thing now, and they’ll keep doing their thing when China overtakes the US as the top global power.

Why are you so afraid of China?

Do you think there will be a war with the US? I find that extremely unlikely given both nations have atomic bombs and nothing to gain from war.

Do you think the US is gonna get economically bullied by China? Well, that’s what the US does to the rest of the world right now. Ironically, that’s why most of Africa would rather partner with China for economic development than with the western powers. But even then, the US is big enough that it can insulate itself from most of that.

Are you afraid that China will start a war in Taiwan? They might, but didn’t the US start a war in Iraq as recently as 20 years ago. Not to mention all of the other middle east conflicts the US is involved in.

You can’t stop China. They have 4x as many people as the US, and just as big a landmass with plenty of resources. China will become the top global power. But that doesn’t mean that your life will be any worse.

It means that your politicians won’t be able to act with impunity as they have for the past century. It means your billionaires will have to compete with China’s billionaires for investment. It means companies will have more competition.

But at the end of the day, your life won’t change. It will probably get better if we’re being honest. China is not your enemy.

Respect for standing up for what you believe in

Do I have to adopt the government line of the country I was born in if I want to maintain citizenship? Am I not allowed to think for myself?

How exactly is that different from a dictatorship?

Considering that my country has a history of CIA sponsored coups and election meddling by the US, China definitely has been better to me

Honestly, I don’t believe China has as much control over TikTok as you claim, and I believe the US government has much higher control over FB than you.

So from where I’m standing it’s the same thing.

And to give you some perspective, there’s plenty of content critical of China on TikTok even though that stuff gets banned on DouYin.

I think you’re biased if you don’t believe the USA is also doing domestic corporate espionage. Cisco probably has multiple NSA sleeper agents silently inserting backdoors into their routers.

Why is it bad when China (supposedly) creates propaganda on tiktok but it’s good when the US creates propaganda on facebook?

You’re not a government, you’re a person. Either way you’re being manipulated, and the US government definitely doesn’t have your best interests in mind.