Comments by "Grim Affiliations" (@grimaffiliations3671) on "The Greek Debt Crisis - 5 Minute History Lesson" video.

  1. So? As long as you keep inflation in check the national debt doesn’t matter.
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  2. No, Greece got rid of their currency and became dependent on a foreign central bank, the US issues it’s own currency
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  3. Japan’s debt is 250% the size of its economy and they’re fine
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  4. Too bad they gave up their sovereign currency in order to join the Euro. Just like that they went from a currency issuer to a currency user dependent on a foreign central bank
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  5. Your taxes don’t fund the federal government
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  6.  @jxmiofficial7691  if you’re from any country with its own currency same thing applies
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  7. Not true. Greece messed up when they abandoned their sovereign currency to join the euro. That made them dependent on a foreign central bank. The US issues its own currency. So the only constraint on their ability to spend money is the productive capacity of their economy. If the us government has the real recourses and labor available in the economy, it can pay for “free” stuff for its citizens like healthcare and education
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  8. The Greek problem doesn’t disprove MMT lol, in fact it was MMT economists who were warning countries like Greece about the dangers of abandoning their sovereign currency. When you stop using your own currency, you become dependent on a foreign central bank. Japan’s debt is 250% the size of its economy and it hasn’t gone bankrupt or experienced an inflation problem. Why? Because they have their own currency. That’s the same reason this won’t happen in the US either
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  9.  @emilsinclair4190  it is
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  10.  @emilsinclair4190  you have no idea what you’re talking about lol, the Japanese system, is very single to the American system. Many people were crying about inflation and debt to gdp ratios with them aswell. What are those other reason that japan hasn’t gone bankrupt despite having such a large debt running such high deficits for decades?
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  11.  @emilsinclair4190  the Japanese government is dealing with a deflation problem, they have been for many years now. Their currency is much stronger than they want it to be
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  12.  @emilsinclair4190  everyone said they would be dealing with an inflation and insolvency problem. They were wrong
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  13.  @emilsinclair4190  people saying this about the US are wrong too
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  14.  @emilsinclair4190  the US is in no risk of hyper inflation
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