Message from @Goblin_Slayer_Floki
Discord ID: 530076931643801610
You kinda have to sometimes tho
he blamed germany in part (german banks) for lending to foreign countries, as opposed to investing in their own businesses, which allowed greece to accumulate so much debt. at least thats what i understood from it
@M4Gunner there's nothing wrong in running a deficit, as long as the borrowed money is used to finance growth
It's often the only way for most countries
what if it's spent on hookers and blow?
But wont we at some point get into a point of no return once everyone is in debt?
in the context of giving money to another country, is there a difference between lending and investing?
A loan is an investment. Banks make money from loans
ok, so when Yanis' say the solution is to encourage investment, he is literally asking for loans? because the impression i got from "investment" was to invest in equity of businesses
there are already too many loans
@Trebjonn debt isn't the end of the world. Someone's debt is another person's profit. You can also sell debt.
too much debt generally
Gunner owes $150 to a friend that died. <:GWmythiFeelsBadMan:391321619748093972>
could always pay his next of kkin
no kids
@orolyn yes, get companies to move into the country to invest, and get banks and istitutions to finance projects
@Capitán Alatriste I know, but most of the debt are related to actual countries and the those that profit are indivudals
> There is nothing wrong with debt as long as it finances growth.
Essentially correct, until you see negative growth
the implication of debt financed growth is that the growth will pay the debt back via ROI... it's like taking out a credit card to finance your business startup exploits
Yes pretty much
Or if you can hardly even pay the interest on the debt as a nation.
Debt itself on a nation level is also dangerious as it ends up used as a bases for the debtholders countrys currency. Which leads to massive issues when there is a recession. See 2008.
It can become a domino effect.
Sorry to hear about your friend
guys my roommate got to the coffee pot before me and now i have to water my coffee down or ill have a panic attack
@M4Gunner morning you beautifully ugly bastardo
This isnt sexist
https://www.youtube.com/watch?v=cnjjkgIO3Ck
The 2008 crisis was due to debt among the financial sector aka the mixing of investment and saving banking. Nothing to do with national debt @Goblin_Slayer_Floki
Women cant make coffee
@Goblin_Slayer_Floki i assume that when the last domino finally falls, the game resets?
@Goblin_Slayer_Floki y thank u
Tardo
BAD TASTE
😱
@Capitán Alatriste it was a faw things. But when it happened the economies began to crumble and the value of the currencies plummitted. This caused a shockwave to the nations holding debt and using it to prop their own econony and currency. National debt wasnt the start of it no, but it surly threw its lot into it.
*"The desk Sergeant at the station makes better coffee than this"* <:oof:494878589406150657>
And to think it didnt have any part of it, is intellectually disingenuous
@Goblin_Slayer_Floki the US debt came mostly as a result of the Bank bailouts and Obama's fiscal stimulus package to restart the economy.
Is there any reason for a country to have debt if it somehow could avoid it?
The amount if national debt the US held before the crisis was fairly minimal, and wasn't what deepenes the recession