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- "Rentiers vs. producers" is a red herring. Real issue: Does spending mobilize idle resources? If yes, debt expands productive capacity.
- Unsustainability = inflation from real resource limits (labor/materials), not $$. Solution? Tax excess demand proactively—don’t starve public investment.
- TL;DR: - Taxes don’t fund federal spending. - Debt isn’t a transfer unless policy chooses to enrich bondholders. - Fight inequality with policy, not austerity.May 15, 2025 05:51
You did not study my previous response to you sufficiently. bsky.app/profile/hale...- Setting aside technical issues (which there are many) the arcane notion of money that you advocate (found in most hyper-inflationary failed economies) has two main drawbacks which you are surely well aware of but choose to ignore. I will list them here for the benefit of the future reader. #EconSky
