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A comment on Nassim Taleb says the U.S. is in a ‘death spiral’ over government debt. Parent comment

Re:Nassim Taleb says the U.S. is in a ‘death spiral’ over go... by ot on Wednesday January 31, 2024 @08:16PM (#39211795)
Comparing debt to GDP is very much mainstream economics, not MMT.

https://en.wikipedia.org/wiki/Debt-to-GDP_ratio

> is usually unable take their income streams

It takes a percentage of that, through taxes.

https://en.wikipedia.org/wiki/List_of_sovereign_states_by_ta...

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Re:Nassim Taleb says the U.S. is in a ‘death spiral’ over go... by coffeemug on Wednesday January 31, 2024 @08:27PM (#39211861)
Comparing debt to GDP is mainstream economics, but it's very much different from the analogy of homeowners debts and their salaries. The proper analogy there would be government revenues, not GDP.
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Re:Nassim Taleb says the U.S. is in a ‘death spiral’ over go... by PaulDavisThe1st on Wednesday January 31, 2024 @10:22PM (#39212429)
The government doesn't owe the debt, we the people do. We authorized & enabled the government to incur that debt on our behalf.
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Re:Nassim Taleb says the U.S. is in a ‘death spiral’ over go... by hamilyon2 on Thursday February 01, 2024 @08:05AM (#39215518)
This is pretty non-mainstream macroeconomic point of view. It did not correspond to reality when latest sovereign debt default occurred in Greece.

Then it was government, foreign banks who bought the debt and European Central Bank who was on the hook for restructuring, not citizens or general public.

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Re:Nassim Taleb says the U.S. is in a ‘death spiral’ over go... by PaulDavisThe1st on Thursday February 01, 2024 @04:36PM (#39221812)
Who was on the hook for the effects of the debt restructuring deal?
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