Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
6) No US Politics.
Please don't post about current US Politics. If you need to do this, try !politicaldiscussion@lemmy.world or !askusa@discuss.online
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
Why? Why national debt?
So there's this thing called MMT which essentially (vast oversimplification incoming) opines that the national debt is meaningless as long as we're the dominant military power and everyone uses our currency (most large multinational trade deals are balanced with USD and most currencies derive a portion of their value from the country's stockpile of USD). That theory has so far not been proven correct nor incorrect but we might be both 1) coming up on the first real test of MMT and 2) seriously breaking assumptions of MMT (BRICS has been investigating an alternative trade currency and Russia has a lot of oil and gas it wants to sell but USD sanctions have prevented).
Is MMT correct or fantasy? Well, a lot of MMT supporters are highly paid government employees whose employer really wants them to say it's correct but we haven't really been able to run an experiment on it or anything.
MMT = what?
Modern Monetary Theory.
Thank you!