Message from @Orson Krennic

Discord ID: 640282398033969162


2019-11-02 20:05:56 UTC  

Defaults

2019-11-02 20:06:05 UTC  

But realistically we’ll just have an unlimited debt ceiling.

2019-11-02 20:06:18 UTC  

It’s the most diplomatic thing to do.

2019-11-02 20:06:22 UTC  

And since we have a fiduciary monetary system we'd be fine

2019-11-02 20:06:33 UTC  

FDIC would insure deposits for most Americans

2019-11-02 20:07:45 UTC  

I mean, a little inflation might occur if they pay out, but not any major issues if we handle it correctly. @Orson Krennic

2019-11-02 20:08:40 UTC  

The Fed would curb inflation quickly in this scenario

2019-11-02 20:08:54 UTC  

If the global market just like died

2019-11-02 20:09:03 UTC  

And our major financial institutions filed chapter 11

2019-11-02 20:09:07 UTC  

They'd be bailed out

2019-11-02 20:09:17 UTC  

Discount rate would go down to 0

2019-11-02 20:09:35 UTC  

It would be 2008 but take longer to get out of

2019-11-02 20:09:40 UTC  

But the system would survive

2019-11-02 20:10:03 UTC  

The only thing that can kill the system is a firesale

2019-11-02 20:12:25 UTC  

@Orson Krennic And of course that’s what bailouts are made to prevent.

2019-11-02 20:12:40 UTC  

Right

2019-11-02 20:12:53 UTC  

You cannot kill the US finance system

2019-11-02 20:13:19 UTC  

Because

2019-11-02 20:13:22 UTC  

You can't kill America

2019-11-02 20:13:25 UTC  

Rather, you could, but it’s entirely unrealistic.

2019-11-02 20:13:39 UTC  

Right, the only thing that could do it is a firesale attack

2019-11-02 20:13:41 UTC  

Die hard style

2019-11-02 20:14:24 UTC  

And that would only be a real issue if everyone did it or if a large amount of an industry was monopolized. @Orson Krennic

2019-11-02 20:15:10 UTC  

And even then the financial leaders of the companies would know better when their profits are insured by the federal government.

2019-11-02 20:16:47 UTC  

Monopolies aren't even that big of a problem most times

2019-11-02 20:16:58 UTC  

Natural monopolies are perfectly fine

2019-11-02 20:17:06 UTC  

But most monopolies are created by the government

2019-11-02 20:22:40 UTC  

@Orson Krennic The kind that exist because of government interaction or the kind that were originally started by the government?

2019-11-02 20:23:21 UTC  

Natural monopolies exist because of high operation or start causes in an industry

2019-11-02 20:23:47 UTC  

But large conglomerations are made rich because they get money and contracts from the government

2019-11-02 20:36:26 UTC  

can we just take voting rights away from women? that will solve 90% of issues

2019-11-02 21:02:33 UTC  

so true

2019-11-02 21:04:58 UTC  

@CUNT How?

2019-11-02 21:05:33 UTC  

Dude also wants to take voting rights away from everyone who doesn’t own property

2019-11-02 21:05:35 UTC  

So yea

2019-11-02 21:05:56 UTC  

@Orson Krennic Monopolies can stifle free markets. It’s like a massive oak tree preventing anything from growing under it. Sometimes the government needs to cut it down and let the rest of the market grow.

2019-11-02 21:06:44 UTC  

Regardless if it grew on its own or if the government planted it.

2019-11-02 21:06:58 UTC  

Natural monopolies operate differently

2019-11-02 21:07:19 UTC  

It's like a local cable company

2019-11-02 21:07:22 UTC  

Not to mention if it falls by itself very bad things can happen like the market collapsing and prices skyrocketing because supply can’t meet demand.

2019-11-02 21:07:24 UTC  

That's a natural monopoly