Sunday, November 17, 2024

Ok, How About Some Retrospection? - by Karl Denninger

 Read full text: https://market-ticker.org/akcs-www?post=252317

 
No nation has ever managed to get out of this sort of exponential deficit expansion without collapsing except by cutting all of that shit out, all at once.  Though all of recorded history there is not one instance of success in trying to play "MMT" games.  NOT ONCE.  What DOES reliably happen is civil unrest, the death of millions by internal collapse and even civil war.  Would you rather have the price of your house go down by 60% and your stock portfolio drop by 80% or be what's for lunch as you cook in your home that is literally burnt around you by a starving mob?