It's called macroeconomics 101 Bobby. You should understand it before trying to educate other people about printing money.

I want to see Michele Bullock - the chief of the RBA to get up on stage
and make a groveling apology to the people of Australia.
I want to see tears run down her face as she takes the blame for people
losing a large percentage of their life savings from inflation and
admit that the RBA caused it while she was a senior employee there and voted for
all the money printing they did and still do.
I want her to admit that the interest rates are high and that is destroying
the lives of millions of mortgage holders as they go without essentials to pay the banks
for their mortgage every month -
some even sell at a loss and owe the banks money.

Then I want her to promise to stop printing money -
which would instantly stop inflation and lower mortgage rates -
she could solve high inflation over night if she wanted to.

freediver wrote on Dec 17^th, 2024 at 6:17pm:




https://www.clearfinances.net/countries-without-public-debt/

Most Western countries have grown accustomed to issuing debt to finance their operations.
But that is not a requirement.
We will analyze 10 great countries without any significant public debt.


Switzerland
Sweden
Norway
Denmark
Czech Republic
Estonia
Singapore
Taiwan
South Korea
Russia


Public debt is one of the great problems of our era. The existing debt load is unprecedented. And what is worse, it has been accumulated to finance short-term spending. We have nothing to show for it.

In the past, the only reason a country took on a significant amount of debt was because an exogenous event taking place, such as a world war. And the will to defend their county made governments willing to spend recklessly.

However, the debt governments have taken on in recent decades have mostly been used to finance frivolous spending. In other words, instead of living within our means, we have opted to continually go into debt, not worrying about how that debt would be paid back in the future.

The population has shown a high degree of ignorance and selfishness. And politicians have taken advantage of that, making promises to the public with the only goal of being elected to office.

The result is that virtually all the world’s major economies are in a very vulnerable situation. Many officials try to justify it with the argument that high public debt is the price for having a developed economy. But that could not be further from the truth.

freediver wrote on Dec 17^th, 2024 at 8:53pm:



It's the same -
when the Govt creates money via the RBA -  they have to pay it back.

Bobby. wrote on Dec 17^th, 2024 at 6:34pm:


You want to pay higher taxes? Or receive Russian levels of social payments?


Quote:


Certainly the current financial system is dysfunctional.

But how can governments support the losers in the competitive, neoliberal freemarket without increasing taxes or borrowing?

Free markets are not  regulated to ensure everyone can prosper...

Bobby. wrote on Dec 17^th, 2024 at 8:58pm:


Who to?

The official cash rate is pretty much independent of total government debt. For example, during the Howard years, federal government debt reached fairly low levels, but they still kept the bond market going.