Debt write of from diluting the current debt with new money seems to make sense gov wise. Far from ethical but in game it's a win. How come it's only recent phenomena ? Seems that it's not always used to be the case. or was it ? There was so called austerity measures in the EU few decades ago. Now they just print more, dilute and throw at it at the market. And will continue to do for non stop.
>>62685878An economist at my university celebrated helicopter money, but he thought it was all Biden. When I told him it was Trump he was obviously disappointed. Yeah it's like a debt jubilee. The marginal utility of x-thousand is greater for poorfags than for richfags, and since prices don't/can't adjust quickly, it's not bad perhaps. Of course it's not something to celebrate but it's better than the money going to banksters or the central bank buying depreciating assets
>>62685878>How come it's only recent phenomenaI think this is simple but idk for sure. Logistically it was a lot harder to get money to 'everyone' in 1980 than in The Current YearOfcourse the money ends up witj banks and corporations anyway because poorfags will spend 100% of itAlso the 2008 GFC print impact was buffered by various factors that made moneyboys think they can get away with it
>>62685878>And will continue to do for non stopEconomists now think it's akshually bad because it caused anusraping inflation after the meme fluOf course the austrians were right all along but nobody ever listens to them because of public choice theory
The purpose of governments it to run social support programs (roads, police, building inspections... and the big one: pensions). The taxation shortfall of to fund these social support programs is funded by inflation (aka the creation of new debt money by central banks). It's just part of making society work. We can't have retired people running out of funds, so we need inflation and taxes to fund it. If people wanted a low tax rate country, then people would have to keep strong families that didnt need to support single mothers and pensioners. If retired parents were expected to live in the home of their children, they wouldn't be striving their whole life to get a 100k pension.
