Sunday, January 15, 2023

Debt Ceiling

The point is all the possible solutions (playing with bond sales, minting the coin, pointing to the constitution, just saying "the law says I gotta spend, so I gotta spend").

For some reason there's a big nerd argument about which is "more serious" and really who gives a shit. YOUR MINT THE COIN SOLUTION IS RIDICULOUS, MY POINT AT THE CONSTITUTION SOLUTION IS NOT!!!

It misses the point. "The debt ceiling" problem is a fake problem, it is the ridiculous thing, all solutions to it are more "serious."

The mint the coin solution is actually less ridiculous than the alternative Dean is proposing - I think Dean agrees - but as it's hidden behind some complicated sounding finance wonkery it SOUNDS less ridiculous. This explains the seriousness with which crypto is treated, as well.