Capitalists absolutely love government debt, because it provides a vehicle for safe investment.
They bellyache about debt because it bolsters the austerity narrative that they use against public funds being used to support working class interests.
Comment on Why The Government Has Infinite Money
agarorn@feddit.de 9 months agoBasic mmt with a socialist touch.
Debt just means that the government decides to make something happen. It is neither inherently good or bad. It depends on the context. The biggest opponents are capitalist who want to stop good things from happening as this will reduce their profit. E. G. : more public housing would destroy the business case of landlords.
unfreeradical@lemmy.world 9 months ago
davetapley@lemmy.world 9 months ago
Amazing summary, and I’m glad you mentioned landlords. I am having such a struggle lately when people tell me about their ‘side hustle’ as a landlord, and how they make so much passive income. I just wanna scream “so you feel good about making money doing basically nothing while there are so many people unsheltered, and living paycheck to paycheck?”.
NightAuthor@lemmy.world 9 months ago
It’s hard to have true empathy for something you have no real concept of.