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31 sats \ 0 replies \ @justin_shocknet 22 Aug \ parent \ on: Debt levels: irresponsible policies are sinking the world into debt econ
It's true, that's one of the things Stephanie Kelton and the MMT bunch are right about... these numbers literally don't mean anything because there's no real denominator.
Pointing out these big numbers for shock value is trendy, but it's not an effective mechanism for education... people reflexively think that things can be tweaked or disciplined into getting the number down, or at least stop it from growing. This misses the really interesting thing about the system, is these numbers CAN'T slow or go down without ending the system altogether.