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I mentioned earlier that I have some Conservative leanings, well here they are. I am a strong supporter of balancing budgets and I love discussing ways this can be done despite living in a debt-based monetary system. As a teenager, I crafted an entire theory how we can reduce private and public debt burdens through a combination of balanced budgets and inflationary deleveraging. It involved balancing the budget to the T and then replacing all fiscal stimuli with monetary policy, essentially ramping up the quantitative easing to ensure a stable inflation rate between 3-5%. This would provide a double wammy to our national debt.
1) The central bank would buy up government bonds, effectively eliminating the debt while doing so
2) The inflation spurred by the central bank would devalue the existing debt in real terms. If inflation is 5% but the interest on the debt is 1%, the debt's real value is going down by 4% every year.
I explained this to my parents, and do you know what their response was?
>"Why is a 19 year old thinking about ways to deal with global debt crisis and monetary policy? When i was 19 I didn't give a rats ass about that stuff, I was thinking about food and girls, son, are you gay, it's ok, but this is not normal for a 19 year old. This is something professors and economists speak of, not University kids".
After years of telling me to focus on intellectual and academic concepts, they're now calling me gay for focusing on that instead of all the girls who reject me, truly ragefuel
1) The central bank would buy up government bonds, effectively eliminating the debt while doing so
2) The inflation spurred by the central bank would devalue the existing debt in real terms. If inflation is 5% but the interest on the debt is 1%, the debt's real value is going down by 4% every year.
I explained this to my parents, and do you know what their response was?
>"Why is a 19 year old thinking about ways to deal with global debt crisis and monetary policy? When i was 19 I didn't give a rats ass about that stuff, I was thinking about food and girls, son, are you gay, it's ok, but this is not normal for a 19 year old. This is something professors and economists speak of, not University kids".
After years of telling me to focus on intellectual and academic concepts, they're now calling me gay for focusing on that instead of all the girls who reject me, truly ragefuel
