Comments by "Grim Affiliations" (@grimaffiliations3671) on "The Government Plan To Hack The Economy In 6 Months." video.

  1. deflation = depression. Try saving with no job
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  2. terrible idea
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  3.  @gerrystevens9041  considering how often depressions happened on the gold standard, that would be a much better ticket to starvation and slavery tan our current fiat system
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  4. We're not on gold anymore like we were in the 20's, so the government will bail the economy out long before we get a depression. Also a crash aint happening while the government is running such large deficits
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  5. imagine thinking an entity that creates its own money is broke 😅
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  6. the ones getting recked are the perma bears
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  7.  @stevebishop3796  This claim that the "next generation will foot the bill" is nonsense. It relies on the idea that taxes will have to go up in the future to pay for the national debt, but that's completely wrong for two main reasons. The first one being, the debt isn't paid for by taxes, it's paid for by simply rolling over any bonds that come due. The government rolled over 120 TRILLION dollars worth of bonds in 2021 alone. That's trillion with a T. The idea that taxes could ever cover that amount in silly. They can do this forever because they control the currency our debt is denominated in. The other reason it's nonsense is an even bigger reason reason, and it's because taxes don't pay for anything the federal government does. They're debited out of existence at the IRS. The money we're using to pay taxes comes from the government in the first place, so our taxes don't give them new money, they just cancel out what they've already spent. You can test this out yourself, the next time you pay federal taxes, do it in cash at a physical IRS location. They'll literally put your tax money in a shredder. Dollars and bonds are two sides of the same coin and both come from the same printer. So if you're not worried your grandkids will inherit dollars you shouldn't be worried they'll inherit bonds (government debt)
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  8.  @humanyoda  both countries you mentioned were forced to take up debt in forign currencies, The US borrows in its own currency
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  9. aint happening any time soon
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  10. what good is lower prices if you dont have a job?
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  11. everything wont crash as long as the government runs deficits. Its when they try to "balance the budget" that you should be worried
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  12. A balanced budget would be a bad ting. That means they'd be taxing away everything they spend, which means you're asking to government to take money out of your pocket. Deficits are healthy because they support private sector balance sheets. Every time we've ever had a recession or depression its been because we tried to "balance the budget" (except covid)
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  13.  @bestprice1776  Why do we need to balance the budget when we can just stop selling bonds and adding to the debt? There's no rule that says we need to sell bonds or "borrow" when we run a deficit
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  14.  @bunsguns8222  of course they are, we've been running them almost constantly since the country's founding. In fact most times things went south have been the times we tried to stop running deficits and "balance the budget"
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  15. never
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  16. crashes only happen when they try to cut deficits that aint happening
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  17. the fed is causing inflation with their high rates
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  18.  @jamesagoins  doesnt matter if homeowners hold the line when the government is running deficits
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  19.  @BTCforce  owning bitcoin isnt much different to owning any other asset class
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  20. we should use helicpoter money to finance deficits instead of bond sales. No more national debt
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  21.  @stevebishop3796  This claim that the "next generation will foot the bill" is nonsense. It relies on the idea that taxes will have to go up in the future to pay for the national debt, but that's completely wrong for two main reasons. The first one being, the debt isn't paid for by taxes, it's paid for by simply rolling over any bonds that come due. The government rolled over 120 TRILLION dollars worth of bonds in 2021 alone. That's trillion with a T. The idea that taxes could ever cover that amount in silly. They can do this forever because they control the currency our debt is denominated in. The other reason it's nonsense is an even bigger reason, and it's because taxes don't pay for anything the federal government does. They're debited out of existence at the IRS. The money we're using to pay taxes comes from the government in the first place, so our taxes don't give them new money, they just cancel out some of what they've already spent. You can test this out yourself, the next time you pay federal taxes, do it in cash at a physical IRS location. They'll literally put your tax money in a shredder. Dollars and bonds are two sides of the same coin. They're both government instruments and they come from the same printer. If you're not worried your grandkids will inherit dollars, you shouldn't be worried they'll inherit bonds (government debt)
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  22.  @JB-ej8zy  As long as you keep the spending within the capacity limits of your economy, sure
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  23.  @humanyoda  wrong, we had 4 recession every decade
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  24.  @stevebishop3796  lol people have been predicting that for over 100 years. Cant fail an auction when you can by from yourself or simply stop selling bonds at any time. Good luck though
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  25. I suppose that could work on a local level
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  26.  @stevebishop3796  dont know how you can say that after all the qe done in the 2010's in the US. Japan engaged in unheard of levels of QE and has been suffering from deflation, which is quite literally the opposite of hyperinflation. The beauty of borrowing in your own currency is that it doesnt matter where the investors run
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  27. join a union
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  28. This claim that the "next generation will foot the bill" is nonsense. It relies on the idea that taxes will have to go up in the future to pay for the national debt, but that's completely wrong for two main reasons. The first one being, the debt isn't paid for by taxes, it's paid for by simply rolling over any bonds that come due. The government rolled over 120 TRILLION dollars worth of bonds in 2021 alone. That's trillion with a T. The idea that taxes could ever cover that amount in silly. They can do this forever because they control the currency our debt is denominated in. The other reason it's nonsense is the main reason, and it's because taxes don't pay for anything the federal government does. They're debited out of existence at the IRS. The money we're using to pay taxes comes from the government in the first place, so our taxes don't give them new money, they just cancel out what they've already spent. You can test this out yourself, the next time you pay federal taxes, do it in cash at a physical IRS location. They'll literally put your tax money in a shredder.
    1
  29.  @georgedonner2115  as long as it doesn't create more money than its economy can produce, it can create wealth. If the government can me a billion dollars, i would certainly be wealthy
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