Governments being able to borrow money (to run that deficit) relies on people believing that they will be paid back. The more the debt grows, the less likely people are to believe they’ll get paid back.
The other option is endlessly printing money, which causes hyperinflation and you get an Argentina/Turkey/Weimar Republic situation.
Stop the hyperbole. Jacobin is more like social democrat (what most nominally social democrat parties used to do, but aren't doing anymore). That's about two significant notches less communist than communism.
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surely buying bonds will save you when you are running 8% yearly deficits to buy votes with welfare payments
There's no natural law saying that budgets have to be balanced. Most countries run constant deficits.
Are you serious about this?
Governments being able to borrow money (to run that deficit) relies on people believing that they will be paid back. The more the debt grows, the less likely people are to believe they’ll get paid back.
The other option is endlessly printing money, which causes hyperinflation and you get an Argentina/Turkey/Weimar Republic situation.
The author writes for Jacobin.
Of course it’s promoting Communism.
Stop the hyperbole. Jacobin is more like social democrat (what most nominally social democrat parties used to do, but aren't doing anymore). That's about two significant notches less communist than communism.
they always tell you who they really are: look up les jacobins in the French revolution.
Two tiny notches.
One is a dictatorship (well that is how it turns out every time), the other is a democracy, for starters. If that is not a huge difference to you...
”The goal of socialism is Communism.” - Lenin
It’s always sold as “a little bit of socialism.”
Every country, every time in history.
The author of this transparent propaganda is a student in a college. When I was his age, I was a socialist too. It’s just youth and inexperience.