• Veraticus@lib.lgbt
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    1 year ago

    In what sense does that follow from what you posted? Did you mean to post a different article?

      • Veraticus@lib.lgbt
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        1 year ago

        I do; do you?

        But of course what I’m actually doing is showing that posting pure statistical data, and then using it to make strong unsourced unattributed assertions, is very silly. If you have something to say, say it and post proof for it. A screenshot of number going up is meaningless.

        • ghost_laptop
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          1 year ago

          Except it’s not numbers going up, it’s statistical data about the US debt, such as the titled implied. In neoliberal right wing governments such as the one in the US, the way they fight this kind of scenarios is austerity policies such as not raising wages as inflation goes up, the lowering of the living standards of the working class, and so on, instead of making the actual culprits pay the price.

          This and the current trend of dedolarisation, plus the recent failure of China buying US debt, and a lot of other factors could indicate some bad times for the US economy.

          I think it would have been more useful if you would have asked about the consequences of unsustainable debt or some other thing related to economy, since none of us are experts probably, were we could have created a meaningful debate, rather than acting arrogantly. The title says what the body shows, what you can get from that data depends on your field of study, but statistical data is not useless numbers going up, even in something like Cookie Clicker mean things that can be interpreted.

          • Veraticus@lib.lgbt
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            1 year ago

            None of what you said is supported by either the screenshot itself or anything else that’s been cited by the OP (or anyone else in this thread). Even calling it “statistical data about the US debt” is overselling it since it’s literally just a screenshot and a link to a paper that (presumably?) the screenshot came from.

            Anything you mentioned would be interesting to talk about, perhaps with sources? Interviews? Anything? But no; instead we’re being told that the screenshot is sufficient context to ground any assertion we care to make.

            My point is the post is vacuous and any discussion around it unmoored from anything objective or of interest.

            • Fiona (she/her)🏳️‍⚧️@lemmygrad.ml
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              1 year ago

              Even calling it “statistical data about the US debt” is overselling it since it’s literally just a screenshot and a link to a paper that (presumably?) the screenshot came from.

              This is a statistics website of the US treasury

        • ☆ Yσɠƚԋσʂ ☆OPM
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          1 year ago

          The only silly thing here is claiming that the huge amount of debt increase is not indicative of anything. I recommend reading up on what this has meant historically to understand what to expect going forward.

          • Veraticus@lib.lgbt
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            1 year ago

            Why not post that, instead of posting screenshots of numbers and claiming it means whatever you want it to?

              • chaorace@lemmy.sdf.org
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                1 year ago

                The majority of people who own American debt are Americans who hold bonds. National bonds are a mutually beneficial financial instrument and not at all the same kind of debt that a normal person deals with.

                To be 100% clear: even if the U.S. Federal government had a massive surplus of money in their pockets, they would still probably issue bonds because of how good a deal they are. Why wouldn’t they take money at a stupid-low interest rate from Americans? Is it really better for the country if that money’s just sitting around gathering interest in some wealthy person’s bank account?

                  • chaorace@lemmy.sdf.org
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                    1 year ago

                    The vast majority of bonds aren’t owned by the average US citizen, though

                    What’s your point? The bourgeois investor class isn’t going to foreclose on the very government which facilitates the status quo, but let’s ignore that for the sake of argument. Please enlighten me of a scenario wherein the wealthy elite somehow sabotage the U.S. Federal government by buying more bonds.

                    Not to mention what the US budget is primarily diverted towards.

                    You wanted a justification for taking on debt, that’s what I gave. I don’t know what you expect me to do about a statement that basically boils down to “budget not good”. Government budget allocations & spending are inefficient in absolute terms – big surprise – but what’s your thesis?

                • redtea@lemmygrad.ml
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                  1 year ago

                  Is there a way of getting a surplus without having a debt?

                  This is not a rhetorical question.

                  • chaorace@lemmy.sdf.org
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                    1 year ago

                    Depends on how you define debt, I suppose?

                    Under a strict definition like “money that you’ve explicitly agreed to repay to a lender in the future”, the answer is simple: “take money without agreeing to repay it” (e.g.: taxes, liquidations, nationalization).

            • ☆ Yσɠƚԋσʂ ☆OPM
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              1 year ago

              Because this is a world news community as opposed to historical literacy community.

              • Veraticus@lib.lgbt
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                1 year ago

                In what sense is a screenshot with scribbles on it “world news?”

                • ghost_laptop
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                  1 year ago

                  To be fair the web site does a terrible job at presenting the information since it only gives you a couple of of datasets at a time, so the screenshot makes it easier to see the difference. Although I agree that having the link in the URL field and the image on the body would have been better, I guess.

                  • Veraticus@lib.lgbt
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                    1 year ago

                    What would have been better is … anything honestly. Any kind of interpretation or findings. Or, if that’s asking too much, even a vague thesis statement.

                    This is definitional low quality and the OP should be embarrassed by it.

                • redtea@lemmygrad.ml
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                  1 year ago

                  It’s world news to people who know that when the US faces financial trouble some countries get carpet bombed and the rest of us get fucked over in other ways.

                • ☆ Yσɠƚԋσʂ ☆OPM
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                  1 year ago

                  If you don’t understand how US national debt going up by a trillion in a month is not world news, don’t really know what else to tell you. I just love how you’re sealioning here trying to act like you have a perfectly valid point to make.

                  • Veraticus@lib.lgbt
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                    1 year ago

                    I’ve made it perfectly clear what else you should be saying: literally anything. An interview? An article? A study? Is a screenshot truly the limit of what you can offer us in terms of world news?

                    I also have a perfectly valid point, and I believe I’ve made it, but since it seems to escape you:

                    Your submission quality is bad. Do better in the future.

                • redtea@lemmygrad.ml
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                  1 year ago

                  None of us have just landed here from outer space. This information means more than just the numbers presented because people who read it know varying degrees of the context. You might, for example, although I wouldn’t understand the motivation, use this new data to re-interpret something that Vaush, if they speak about such topics, has said about political economy.