Comments by "Laurence Fraser" (@laurencefraser) on "How Money Works" channel.

@donm2067 This tells me you've really not being paying attention to how the USA is just going into an absolute meltdown right now... Like... the curent grand idea is to replace income tax with import tariffs... in the best case import tariffs can cover 4% of the government budget... and those tariffs and various other ongoing stupidity is on track to do such massive damage to the American economy that the tariffs will bring in far less than that. For reference, the interest on the USA's existing debt is substantially more than 4% of their budget, nevermind anything else. This is just one example of the complete nonsense happening there right now.... which has very good odds of taking out the global economy in the process given how much of it is dependent on American institutions in the background (which the current US government is actively taking an axe to).
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