cm0002@lemmy.world to Lemmy Shitpost@lemmy.world · 7 months agoLuxury bones? In this economy.lemmy.mlimagemessage-square43linkfedilinkarrow-up1907arrow-down111
arrow-up1896arrow-down1imageLuxury bones? In this economy.lemmy.mlcm0002@lemmy.world to Lemmy Shitpost@lemmy.world · 7 months agomessage-square43linkfedilink
minus-squareturnip@sh.itjust.workslinkfedilinkEnglisharrow-up5arrow-down1·7 months agoThe further you get from the gold standard the worse it gets. Because debt needs to grow to pay past debt, and mortgage debt is what we use to boost GDP.
minus-squareiknowitwheniseeit@lemmynsfw.comlinkfedilinkarrow-up5·7 months agoDebt is not a force of nature. Money is owed to someone.
minus-squareturnip@sh.itjust.workslinkfedilinkEnglisharrow-up2·7 months agoThe bank. Who pops money into existence out of nothing with no reserve requirement. You’re mortgage isn’t borrowed from Bill down the street, its created from the ether.
The further you get from the gold standard the worse it gets. Because debt needs to grow to pay past debt, and mortgage debt is what we use to boost GDP.
Debt is not a force of nature. Money is owed to someone.
The bank. Who pops money into existence out of nothing with no reserve requirement.
You’re mortgage isn’t borrowed from Bill down the street, its created from the ether.