A weekly thread to discuss financial matters - from personal all the way up to global.
Ground Rules
*Remember that we're all just Internet randos. Don't bet your life savings on a hot tip from this thread.
- Keep culture war in the culture war thread. Yes, global events may impact our personal finances, but that does not mean we have to incessantly harp on culture war aspects here. If you are going to discuss it, please stick to the practical impacts of it on an individual level.
- Be kind. Remember that everyone here comes from different circumstances. We all have different resources available and different risk tolerances.
- Don't let the perfect be the enemy of the good. Better is better. Celebrate people when they take a step up and work to move their finances in the right direction. Don't flame out because they haven't followed what you consider the optimal path. Everybody has to start somewhere.
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Notes -
I have to admit you've given me some interesting food for thought.
Unemployment and inflation are low, so no problems there.
The bigger issue would be a sort of economic constitutional crisis. Government services are supposed to be paid for by taxes. When taxes are inadequate to cover expenses, then Congress is supposed to raise taxes or cut services. At some point debt grows to the point where Congress is forced to confront this. No one ever voted on "let's just keep printing money forever to pay for it".
Using only taxes to pay for services, then there is a hard cap on "Boomer luxury communism". Using taxes + money printing, then this cap is much higher. This money printing is a form of tax, and the government spending is a form of non-productive consumption. In the end, higher taxes and greater non-productive consumption will lead to lower economic growth.
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