The world will pay for not dealing with debt

Choose one - socialism or wealth. You can't have both.

Das's 'Traders, Guns & Money' is excellent. However, he doesn't understand that monetary sovereign government debt is NOT debt in the conventional sense at all. If you don't understand MMT, you cannot be a competent macroeconomist.

If he’s lumping in FedGov Deficits (by sovereign currency/issuing govts on floating exch), then🤔 MMT Such Govts cannot become insolvent. They’re limited by real resources available at any time, but don’t owe their own currency ‘debt’ to anyone. Yes, they issue bonds..(optional)

The world' environment always pays for it.

Those without debt wont need to pay. Its usually the lenders that pay when people default.

...debt to who? The 1%? Write the debt off.

If debt cant be repaid, it wont be repaid.

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The world will pay for not dealing with debtComment: Not wanting defaults on their watch, policymakers have been less than honest, including with themselves, about the options to deal with unsustainable debt No really.
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