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Jul. 21st, 2019 10:59 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
timeletsI'm also puzzled why in peaceful and prosperous times the question about who loves America the most and what's the right way to do it suddenly becomes so important to the president and his supporters, e.g. here: https://chasovschik.livejournal.com/1242903.html
Is this just another opportunity to express tribal loyalty? Or maybe people feel that peace and prosperity are sitting on quicksand of borrowed money and when the whole thing starts shaking they will end up holding an empty bag of government promises, instead of jobs, pensions and healthcare. Love implies a certain level of irrationality and sacrifice. For the sake of what? What is it that is going to require sacrifice from the citizenry?
From an investor perspective, Ray Dalio says that low-yielding debt is worthless even as a store of value. At the same time, the government creates this worthless debt on a massive scale and stuffs it into all major social programs as a source of future payments. This doesn't make any sense, unless the value of government promises is going to be a lot lower, than today. Clearly, neither demographics, nor productivity gains support this outlook.
Is this just another opportunity to express tribal loyalty? Or maybe people feel that peace and prosperity are sitting on quicksand of borrowed money and when the whole thing starts shaking they will end up holding an empty bag of government promises, instead of jobs, pensions and healthcare. Love implies a certain level of irrationality and sacrifice. For the sake of what? What is it that is going to require sacrifice from the citizenry?
From an investor perspective, Ray Dalio says that low-yielding debt is worthless even as a store of value. At the same time, the government creates this worthless debt on a massive scale and stuffs it into all major social programs as a source of future payments. This doesn't make any sense, unless the value of government promises is going to be a lot lower, than today. Clearly, neither demographics, nor productivity gains support this outlook.
