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A comment on Debt Worldwide Hits Record $86k per Person. Parent comment

Re:Debt Worldwide Hits Record $86k per Person by nostromo on Friday December 14, 2018 @04:29PM (#18684982)
Debt is how the supply of money grows.

So, sure, if a few people don't want to have any debt, that's great. But if everyone stopped borrowing we'd be in a lot of trouble.

There are other ideas about how we could grow the money supply of course. Perhaps the Federal Reserve could mail everyone some cash every month.

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Re:Debt Worldwide Hits Record $86k per Person by sfilargi on Friday December 14, 2018 @04:32PM (#18685009)
> So, sure, if a few people don't want to have any debt, that's great. But if everyone stopped borrowing we'd be in a lot of trouble.

Why would we be in trouble. Explain it to me like I know nothing about economics?

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Re:Debt Worldwide Hits Record $86k per Person by nostromo on Friday December 14, 2018 @04:49PM (#18685147)
That's a big ask. Instead I'll point you to the best video I've ever seen on this subject, by Ray Dalio. It's long, but worth it.

https://www.youtube.com/watch?v=PHe0bXAIuk0

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Re:Debt Worldwide Hits Record $86k per Person by coldtea on Saturday December 15, 2018 @07:55AM (#18688197)
This will explain the opposite: https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290
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