Row 5296

Row ID: 5296 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 5296 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

> However, the exact same aid bill includes billions for Israel

Yes, unfortunately, that's a problem. Israel policy doesn't necessarily follow logic and reasoning. Mostly due to religious reasons.

> I will say I don't know a lot about economics, but this sounds like a system that will inevitably collapse one day will it not? You're saying that someone needs to always be taking on debt?

Your interpretation of the economy is called "Austrian economics". This ideology believes that the economy is like a household budget. You have money inflow and money outflow and you need to make more money than you spend - otherwise, you'll get into a debt spiral.

But most of today's economists don't believe this anymore. According to them, the entire economy is just "made up". Everybody makes up money to represent the value of their country. So it's not like a household budget. You don't need to earn more than you spend, because (except for money that flows outside of the country) everything remains part of the system.

It's a circular flow: People provide labor to earn money, they spend money to buy things from companies, companies pay taxes, and the government uses those taxes for things that the economy cannot create by itself, like schools, police, military, health care... Generally, things that don't make (or shouldn't make) a profit.

(at least in theory)

So, the US dollar has value because it represents the United States. People believe that the US economy will continue to grow and that their military will protect them from unforeseen events like wars.

Creditors believe that the US will definitely pay back their debts to them in the future, and that's why they lend them money. And there is no reason to believe that this will change in the future. Of course, they might be unforeseen events, but you can't plan for those anyway.

Obviously, that's what all the politicians already know. Even the ones who constantly fear-monger about debt. But they're disingenuous. If they were sincere, they wouldn't hold any stakes in the US economy - but all of them hold stocks and bonds. Generally, it's an argument that is always used to explain why it's a bad thing to use government money to help the people.

FieldValue
text > However, the exact same aid bill includes billions for Israel Yes, unfortunately, that's a problem. Israel policy doesn't necessarily follow logic and reasoning. Mostly due to religious reasons. > I will say I don't know a lot about economics, but this sounds like a system that will inevitably collapse one day will it not? You're saying that someone needs to always be taking on debt? Your interpretation of the economy is called "Austrian economics". This ideology believes that the economy i…
label r/propaganda
dataType comment
communityName r/propaganda
datetime 2024-04-28
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Raw Record

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  "text": "> However, the exact same aid bill includes billions for Israel\n\nYes, unfortunately, that's a problem. Israel policy doesn't necessarily follow logic and reasoning. Mostly due to religious reasons.\n\n> I will say I don't know a lot about economics, but this sounds like a system that will inevitably collapse one day will it not? You're saying that someone needs to always be taking on debt?\n\nYour interpretation of the economy is called \"Austrian economics\". This ideology believes that the economy is like a household budget. You have money inflow and money outflow and you need to make more money than you spend - otherwise, you'll get into a debt spiral.\n\nBut most of today's economists don't believe this anymore. According to them, the entire economy is just \"made up\". Everybody makes up money to represent the value of their country. So it's not like a household budget. You don't need to earn more than you spend, because (except for money that flows outside of the country) everything remains part of the system. \n\nIt's a circular flow: People provide labor to earn money, they spend money to buy things from companies, companies pay taxes, and the government uses those taxes for things that the economy cannot create by itself, like schools, police, military, health care... Generally, things that don't make (or shouldn't make) a profit.\n\n(at least in theory)\n\nSo, the US dollar has value because it represents the United States. People believe that the US economy will continue to grow and that their military will protect them from unforeseen events like wars.\n\nCreditors believe that the US will definitely pay back their debts to them in the future, and that's why they lend them money. And there is no reason to believe that this will change in the future. Of course, they might be unforeseen events, but you can't plan for those anyway.\n\nObviously, that's what all the politicians already know. Even the ones who constantly fear-monger about debt. But they're disingenuous. If they were sincere, they wouldn't hold any stakes in the US economy - but all of them hold stocks and bonds. Generally, it's an argument that is always used to explain why it's a bad thing to use government money to help the people.",
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  "datetime": "2024-04-28",
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