The Debt Backed System
Luke explains how a debt backed system requires constant inflation to prevent collapse, and how defaulting on debt can lead to a currency collapse. He also highlights the impact of human nature on government policies, using Social Security as an example.In this clip
From this podcast
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Related Questions
Could you explain Mr. Friedberg's case from the All In podcast that US government spending is getting dangerously close to causing a death spiral effect, where the country becomes focused on paying its debt more than anything else? Also, could you explain his point about too many people in the US becoming dependent on working for the government directly or indirectly?
Could you explain Mr. Friedberg's case from the All In podcast regarding US government spending getting dangerously close to causing a death spiral effect, where the country becomes focused on paying its debt more than anything else? Also, could you explain his point about too many people in the US becoming dependent on working for the government directly or indirectly?
Could you explain Mr. Friedberg's case from the All In podcast episode "America Is About To Crash Into A Brick Wall" regarding the US government spending getting dangerously close to causing a death spiral effect, where the country becomes focused on paying its debt more than anything else? Also, could you explain his point about too many people in the US becoming dependent on working for the government directly or indirectly as discussed in the clip "Democracy's Dilemma"?