EvilBit@lemmy.world 1 week ago
The short version is that debt isn’t always bad.
A lot of things make money into more money, whether it’s a market investment, a business, or even a lucky gamble. They can fluctuate, but the ones that stick around typically return a reliable percentage.
A debt is generally money that you get to have and use, but probably have to pay interest on.
If you have a reliable way to turn money into more money at a specific rate and that rate is higher than the interest rate on your debt, then that debt is a wise decision to take on.
CrimeIsLegalNow@ani.social 1 week ago
The reliable way in this case is printing money.
Debt can be useful, if you do useful things with it, things like building infrastructure, winning a necessary war, even student loans or for that matter free tuition and healthcare in general.
Debt taken on to extend your other debts coming due because you’re perpetually stuck in a negative income loop due to your poor national budget policies?
No. That is not useful debt.
EvilBit@lemmy.world 1 week ago
Well one could argue that the US started the debt for good reasons. But yes, right now, the debt is bad because it’s funding genocide, supporting child torture, and enriching pedophiles.