It almost feels as though economics discussion is made complicated on purpose. Almost none of the comments and article mean anything practical to me. A country issues debt to itself? In money it can print?
Here's the crux:
The US goes into 'debt', to pay for something. Where did the money (resources) come from?
- it printed it itself -> that isn't debt, just 'money creation'
- someone else -> it is debt, owed to another entity
You can't pay your groceries by taking a loan from yourself, you either have the money or you don't
Here's the crux: The US goes into 'debt', to pay for something. Where did the money (resources) come from?
- it printed it itself -> that isn't debt, just 'money creation'
- someone else -> it is debt, owed to another entity
You can't pay your groceries by taking a loan from yourself, you either have the money or you don't