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If it were "meaningless," why is nearly $500 billion (FY 2016 amount) spent to service the National Debt? Couldn't that $500 billion be better spent elsewhere?
It is all abstraction on abstraction, both debt and interest on the debt is pulled from the same arsehole. In the current trickle up paradigm they must continuously throw new coins at the economy to keep the circus running. More and more new coins required because owning class found the ways how to make money without interacting with the world of material goods. Money is abstraction, it has no value, people working for the money create value. They will create whatever number of zeroes it takes to keep a critical number of people laboring and serving their needs.
BS. Wage slavery is not as obvious as chattel slavery, but the essence is the same - forced labor on the behalf of the owning class. Both slaves and wage slaves are denied subsistance means outside of owning class reach.
Wage slavery refers to a situation where a person's livelihood depends on wages or a salary, especially when the dependence is total and immediate. It is a pejorative term used to draw an analogy between slavery and wage labor by focusing on similarities between owning and renting a person.
Then you should put quotation marks around the word "slavery" because 1) slaves don't draw wages and 2) slaves are forced to work against their will.
Greeks were not in a position to create their own debt to buy let's say German goods, they had to borrow from Germans to buy German goods. USA is unique, it can create domestic debt to buy German or whomever stuff and there is no competitor on horizon.
It is all abstraction on abstraction, both debt and interest on the debt is pulled from the same arsehole. In the current trickle up paradigm they must continuously throw new coins at the economy to keep the circus running. More and more new coins required because owning class found the ways how to make money without interacting with the world of material goods. Money is abstraction, it has no value, people working for the money create value. They will create whatever number of zeroes it takes to keep a critical number of people laboring and serving their needs.
I wish the national debt holders agreed with your view.
Some of what he said was totally incoherent (e.g. "Money has no value")
but foreign governments do agree with about 80% his view.
debt and interest on the debt is, in fact, "pulled from the same arsehole." We can literally create the dollars we use to pay the interest on our debt. That's just how the game works.
People say, "Oh, but it'll devalue our currency." Hey -- guess what all of our trading partners have been trying to do for the past 30 years? Devalue their own currencies to keep people employed in export-driven jobs ...
Our somewhat-strong currency policy (in other words, our reluctance to create new dollars) has its benefits, mainly in the form of cheaper goods and our status as the global reserve currency. But it is a choice, and there are other choices that are fine, too.
Then you should put quotation marks around the word "slavery" because 1) slaves don't draw wages and 2) slaves are forced to work against their will.
Slaves were provided with food, shelter, essentials and some medical care. Wage slaves are not. You must have very creative definition of "will". The only difference between slaves and wage slaves is that wage slaves are their own enforcers forcing themselves to work against their will.
The old GOP strategy: Tell the White working class that it's the immigrants, Muslims, Hispanics, Blacks, etc that are responsible for their woes. Meanwhile, the Wall Street bankers are laughing while they empty the vaults.
Please explain how someone being rich makes someone else poor.
(Aside from actual theft).
What liberals always fail to grasp in these discussions, is that wealth is not finite.
My making 100k per year in no way prevents you from also making 100k per year.
That concept does not change when the numbers are higher or lower.
Some of what he said was totally incoherent (e.g. "Money has no value")
but foreign governments do agree with about 80% his view.
debt and interest on the debt is, in fact, "pulled from the same arsehole." We can literally create the dollars we use to pay the interest on our debt. That's just how the game works.
People say, "Oh, but it'll devalue our currency." Hey -- guess what all of our trading partners have been trying to do for the past 30 years? Devalue their own currencies to keep people employed in export-driven jobs ...
Our somewhat-strong currency policy (in other words, our reluctance to create new dollars) has its benefits, mainly in the form of cheaper goods and our status as the global reserve currency. But it is a choice, and there are other choices that are fine, too.
Yeah, sure, that's how it works.
Other countries would be willing to give up their wealth to help us out.
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